Reborn Coffee (NASDAQ:REBN) stock is a hot topic among traders today as the company’s shares climb higher after its initial public offering (IPO) two weeks ago.
REBN stock went public on Aug. 12 in a $7.2 million IPO. That saw the company offering 1.44 million shares of its common stock for $5 each. It also included an option for underwriters to buy an additional 216,000 shares at the IPO price.
The Reborn Coffee IPO immediately attracted traders, with the stock gaining 80% on the day. That saw REBN reach a high of $12.45 per share before slowly dropping back down over the last several days. Now, REBN stock trades below its IPO price.
REBN Stock Might Attract More IPO Traders
Even so, it doesn’t look like investors are giving up on Reborn Coffee stock just yet. Interest in the company is increasing today with a major price spike in early morning trading. Shares jumped as much as 20% this morning.
This increase comes despite a lack of heavy trading, which is a typical sign of speculators pushing shares higher. Instead, only about 542,000 shares have changed hands as of this writing. For the record, the company’s daily average trading volume is around 1.6 million shares.
REBN stock is up 3% as of Monday morning.
Investors looking for more of the latest stock market news are going to want to keep reading!
InvestorPlace has all of the latest stock market coverage with our deep dives into the market on Monday! A few examples of that include why shares of Occidental Petroleum (NYSE:OXY), Graphex (NYSEMKT:GRFX) and Party City (NYSE:PRTY) are on the move today. You can find out more on these matters at the following links!
More Monday Stock Market News
- Why Is Occidental Petroleum (OXY) Stock in the Spotlight Today?
- GRFX Stock Gains 66% as Graphex Uplists on NYSE American
- Is Party City (PRTY) Stock the Next Big Short Squeeze?
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On the date of publication, William White did not hold (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.