Forge Global (FRGE) shares slid 13% Wednesday morning, the day after the stock rallied 29%.
Shares of the private securities marketplace opened at $17.46, climbing to $17.99 before sliding to $15.55. The stock last changed hands at $15.99, down 13%, at approximately 10:45 a.m. ET.
Forge shares have been volatile in recent days, rising 35% over the past five sessions. It hit a 52-week high of $47.50 on March 31.
The company went public through a merger with SPAC Motive Capital on March 22, with shares rallying during their market debut to close 60% higher.
Forge and Motive Capital announced plans to merger in September 2021, with the deal valuing the proposed combined company at around $2B.