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Newly public Asset Entities (NASDAQ:ASST), which develops and manages community servers for Discord (DSCD), saw its stock drop nearly 30% in afternoon trading Monday.
Shares of Asset Entities opened at $2.92, reaching an early high of $3.02 before sliding to a low of $2.54 in mid-afternoon. The stock recently changed hands at $2.57 at around 1:45 p.m. ET.
Asset Entities went public on Friday, raising $7.5M after pricing 1.5M shares at $5 per share. The stock hit a high of $6.98 during its debut session, later sliding to close at $3.55.
For more on Asset Entities, check out SA contributor Donovan Jones’s “Asset Entities Proposes $7.5M Mini-IPO Terms”.
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Image and article originally from seekingalpha.com. Read the original article here.