Yet another Lucid IPO (initial public offering) is underway. That’s right. Today marks the start of trading for Lucid Diagnostics (NASDAQ:LUCD) and LUCD stock. Investors awaiting the highly anticipated LUCD stock IPO now are able to buy shares of this company on the Nasdaq.
We’re talking about Lucid Diagnostics rather than Lucid Group (NASDAQ:LCID). However, Lucid Diagnostics is certainly a company with a product offering that many investors have been intrigued by. The company’s EsoCheck and EsoGuard products allow for the collection of cells in the esophagus without an endoscopy. Given the move the healthcare system is making toward technology-driven cost improvements, this company’s offering is one that many early investors have been bullish on.
That said, LUCD stock is not feeling the love in the markets today. Currently, this med tech company has seen its shares drop more than 18% at the time of writing. Let’s dive into what investors may want to know about this company’s IPO.
What to Know About the LUCD Stock IPO
- Lucid Diagnostics is a free-trading subsidiary of PAVmed (NASDAQ:PAVM).
- Currently, shares of PAVM stock are down more than 12% on this poor start for LUCD stock.
- Lucid Diagnostics raised $70 million from this IPO.
- The company sold 5 million shares at $14 per share.
- This IPO price was set at the lower-end of its $14 to $16 range.
- However, investors appear to believe Lucid was too aggressive with this IPO price.
- Accordingly, investors in this med tech company appear to be unsure of where this stock is headed from here.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.