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Are fintech and online businesses better businesses?
- Thread starter LITTLEREDDOT
- Start date
All Bag Holders Fall in
https://www.straitstimes.com/busine...th-stock-sinks-85-as-wild-ipo-rally-collapses
It’s a swift reversal for the stock, which surged more than 580 per cent in its first weeks of trading. PHOTO: MOBILE-HEALTH NETWORK SOLUTIONS
UPDATED
MAY 06, 2024, 08:41 AM
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NEW YORK - Singapore-based telehealth provider Mobile-health Network Solutions, once the top-performing US initial public offering (IPO) in 2024, tumbled below its IPO price for the first time since its April public listing.
The stock plunged 85 per cent on May 4 to close at US$3.39 a share, below the company’s US$4 IPO price. The movement triggered multiple volatility halts.
It is a swift reversal for the stock, which surged more than 580 per cent in its first weeks of trading, making it one of the hottest US IPOs of the year.
The stock began trading above its IPO price on April 10 and rallied to close at more than US$27 a share at its peak, pushing the company’s market value to more than US$925 million (S$1.25 billion) at the time.
https://www.straitstimes.com/busine...th-stock-sinks-85-as-wild-ipo-rally-collapses
Singapore telehealth stock sinks 85% as wild US IPO rally collapses
It’s a swift reversal for the stock, which surged more than 580 per cent in its first weeks of trading. PHOTO: MOBILE-HEALTH NETWORK SOLUTIONS
UPDATED
MAY 06, 2024, 08:41 AM
FacebookTelegram
NEW YORK - Singapore-based telehealth provider Mobile-health Network Solutions, once the top-performing US initial public offering (IPO) in 2024, tumbled below its IPO price for the first time since its April public listing.
The stock plunged 85 per cent on May 4 to close at US$3.39 a share, below the company’s US$4 IPO price. The movement triggered multiple volatility halts.
It is a swift reversal for the stock, which surged more than 580 per cent in its first weeks of trading, making it one of the hottest US IPOs of the year.
The stock began trading above its IPO price on April 10 and rallied to close at more than US$27 a share at its peak, pushing the company’s market value to more than US$925 million (S$1.25 billion) at the time.
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Yes, fintech is a good business. It offers significant advantages, including lower operational costs, scalability, and global reach. However, success depends on factors like innovation, user experience, and regulatory compliance. Companies like Kindgeek provide a white-label fintech platform https://kindgeek.com/white_label, enabling businesses to launch robust financial products and services quickly while ensuring compliance. I know about its benefits from my own experience.
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