Forge Global falls 13%, day after rallying 29%

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.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *