Last week's biggest losers are this week's winners among our recent IPO* movers of the week. After dropping 22.8% the week before, P10 Industries Inc. (OTCMKTS: PIOE) surged a whopping 140.9%. This came soon after P10 was authorized to continue publishing quotes for the company's common stock. With a low share price of $0.46 and a relatively low trading volume, P10 could be in store for lots of volatility in the coming weeks and months.
ObsEva SA (Nasdaq: OBSV) also jumped to the IPO stock winners list with a 32.3% rise following two straight weeks of big losses. The plunge of the last few weeks was somewhat surprising as it followed a number of analyst upgrades. So perhaps investors are seeing ObsEva as undervalued now. The share price remains at well under half of its January IPO price of $15.
BREAKING: New Legislation Could Turn Tiny Pot Stocks into Millions. Click Here...
The losses for the week were relatively tame, with the biggest IPO loser dropping 14.4%. Milwaukee-based Gardner Denver Holdings Inc. (NYSE: GDI) recently acquired gas compression equipment maker LeROI for $20 million on June 7. Wall Street was initially positive on the deal, with the stock rising 10% from June 8 to June 19 before the bottom dropped out. Share prices went from a high of $23.92 to a new low of $20.47 over the course of the week.
Mixed martial arts company Alliance MMA Inc. (Nasdaq: AMMA) dropped 12.1% for the week. This is part of a continuing downward trend that goes all the way back to its October 2016 IPO. The stock is down 71.7% for the year so far, and sits at less than a quarter of its initial offering price.
*Stocks are listed on a U.S. exchange with an initial public offering in the last year. Data and analytics provided by FactSet.
Start Making More Money Now: Get stock picks and research that could put an extra $125,000 in your pocket delivered straight to your inbox for just pennies a day. Read more...
[mmpazkzone name="end-story-hostage" network="9794" site="307044" id="138536" type="4"]
About the Author
Stephen Mack has been writing about economics and finance since 2011. He contributed material for the best-selling books Aftershock and The Aftershock Investor. He lives in Baltimore, Maryland.