Jianzhi Education (NASDAQ:JZ) stock is rocketing higher on Friday following the public debut of its shares on the Nasdaq Exchange.
This follows Jianzhi Education pricing its $25 million initial public offering (IPO) yesterday. The company priced shares of JZ stock at $5 each. The offering includes 5 million shares with an option for underwriters to buy an additional 750,000 shares.
Jianzhi Education is a digital educational content company based out of Beijing. It was founded in 2011 and operates in China. Its services include developing educational content and IT services to higher education institutions.
Why Is JZ Stock Rising Today?
While it’s not uncommon to see a company’s shares increase during its IPO, the growth JZ stock has seen is phenomenal. The company’s shares gained as much as 1,000% today and are currently up 456% as of Friday afternoon. Trading volume is also sitting at more than 600,000 shares.
What we’re likely seeing here is speculators pushing up the price of the stock. This has been a recent trend among IPOs lately as speculative traders take out stakes in the company in hopes of selling them later for profits.
This does mean that traders will want to be careful about investing in JZ stock right now. Speculators can cause volatility for a stock, which can result in highs becoming lows in a short period of time.
Investors looking for more recent stock market news will want to keep reading!
We’ve got all of the latest stock news that traders need to know about for Friday! Among that is what has shares of Micro Focus (NYSE:MFGP) stock taking off, why shipping stocks are sinking, as well as talk of a housing recession. You can read all about this news at the links below!
More Friday Stock Market News
- Why Is Micro Focus (MFGP) Stock Up 94% Today?
- Why Are Shipping Stocks Down Today?
- Are We in a Housing Market Recession Right Now?
On the date of publication, William White 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.
