in New York, shares were trading at $52.89, down 36% on the day. True to form, UTime is already making its way back down to earth. The stocks that fit this profile - small in size with the deal managed by smaller banks - tend to be highly volatile. One trader defined the price action seen with UTime as mind-blowing, but also an indication of investors’ desire to find and snatch “early on,” what could become a new hot stock. It also provides Electronics Manufacturing Services (EMS), including Original Equipment Manufacturer (OEM) and Original Design Manufacturer (ODM) services, for well-known brands. While it’s showing signs of slowing, the IPO market registered a record quarter in the first three months of the year with $215 billion of proceeds, but nearly $100 billion of that came from the record wave of issuance by special-purpose acquisition companies. UTime Ltd is engaged in the design, development, production, sales and brand operation of mobile phones, accessories and related consumer electronics. Boustead Securities, Brilliant Norton Securities and Fosun Hani Securities handled the UTime IPO. Their listings also tend to be managed by boutique banks. These firms are fairly small - UTime was the largest of the group raising $15 million.
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to surge by at least 800% in their debuts over the past decade, according to data compiled by Bloomberg. The company was the latest of 22 IPOs in the U.S. Learn about UTime Ltd (UTME:XNAS) stock quote with Morningstar's rating and analysis and stay up to date with the current news, price, valuation, dividends and other stock information to help with. UTime is off the charts, but it’s not the only IPO darling in recent years. Representatives for the company didn’t immediately reply to an email seeking comment. since Internet service provider Freeserve Plc jumped by 1,261% during the dot-com frenzy in 1999, according to data compiled by Bloomberg for companies that raised more than $10 million.
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The company, valued at about $33 million at its debut, now has a market capitalization around $430 million even after the stock retreated Thursday.Īt 875%, its first-day “pop” - as the debut session is known - gave UTime the best debut in the U.S. By Wednesday, the stock hit a peak of $107.33, up nearly 2,600% from its offering price. The Chinese maker of mobile phones and accessories went public on Tuesday in New York at $4 share. Stock Ideas All-In-One Screener S&P 500 Map S&P 500 Bubble S&P 500 Aggregate Buffett-Munger Screener Industry Overview Undervalued Predictable Benjamin Graham Net-Net 52 -week/3Y/5Y Lows 52. equity capital markets, there’s a least one debut by a tiny company which completely blows up charts and traders’ minds. Get the latest UTime Ltd (UTME) stock report data, including Financial Strength, Profitability and Valuation data (updated: 7). (Bloomberg) - Every quarter or so in the U.S.