BitFuFu, a cryptocurrency mining company, achieved a significant milestone by going public on the Nasdaq stock exchange through a merger with Arisz Acquisition Corp.
The company commenced trading on March 1, 2024, using the ticker symbols “FUFU” for its Class A ordinary shares and “FUFUW” for its warrants. The intention to go public was disclosed in early February through documents filed with the Securities and Exchange Commission (SEC).
However, on the first day of trading, FUFU faced challenges, with equity mostly remaining stable. The stock opened trading at $6.67 before reaching a daily peak of $8.53. Nevertheless, the stock had declined approximately 4.3% by the market’s close, settling at $6.38.
FUFU stock price chart. Source: Source: Stock Analysis
It’s worth noting that the Singapore-based mining company postponed its initial public offering (IPO), originally scheduled for January 2022, through a merger with the same special purpose acquisition company.
We współpracy z: https://finbold.com/ipo-backed-by-bitcoin-mining-titan-struggles-on-first-trading-day/
