Should You Buy Tremor's Stock After Its Busted IPO?
Tremor International (LSE: TRMR) (NASDAQ: TRMR), an Israeli ad tech company that was founded 14 years ago, went public on the Nasdaq Stock Exchange last Friday. The stock is already listed on the London Stock Exchange.
Tremor priced its new ADR shares, which each represent two of its ordinary shares, at $19. Based on its closing price in London a week earlier, it expected its U.S. shares to open at around $22.
But after opening at $19 on the first day, Tremor's stock fell to about $16 before closing at $18. It remains below its offering price as of this writing. Tremor's London-listed shares, which had rallied ahead of the IPO, sank after that dismal debut.
Source Fool.com
