Why Is Near Intelligence (NIR) Stock Down 17% Today?

  • Near Intelligence (NIR) stock is falling after its public debut on Friday.
  • That initially saw shares of the stock rally.
  • Traders will want to look out for its earnings report this week.
NIR Stock - Why Is Near Intelligence (NIR) Stock Down 17% Today?

Source: klyaksun/Shutterstock

Near Intelligence (NASDAQ:NIR) stock is on the move Monday as the company’s shares continue to fluctuate following its public debut.

Near Intelligence went public last week when it combined with the special purpose acquisition company (SPAC) Kludein I Acquisition. The merger was completed on Thursday, with shares of the company’s stock starting to trade on Friday.

During its first day of trading, shares of NIR stock rose roughly 12%. However, today’s movement has the company more than giving up the gains it made during its public debut. It’s worth noting investors often see volatility in a stock shortly after it goes public.

In the case of NIR stock, it’s taking a 17.3% beating as of Monday morning. That comes alongside some 20,000 shares changing hands. That’s not much compared to its prior daily trading volume of around 77,000 shares.

What Is Near Intelligence?

Near Intelligence is a data intelligence company focused on its software-as-a-service (SaaS) platform. This has it offering up information on consumers to companies to help them better curate customer experiences.

Investors will want to keep an eye on NIR stock this week. The company is set to release its first earnings report after going public on Tuesday. That should give traders a strong grasp of its financial position.

Traders seeking out more of the latest stock market news are in luck!

We’ve got all of the hottest stock market coverage investors need to know about on Monday! That includes why shares of Coeptis Therapeutics (NASDAQ:COEP), First Republic Bank (NYSE:FRC), and NuCana (NASDAQ:NCNA) stock are moving today. We’ve got all that news ready to go at the links below!

More Monday Stock Market News

On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.

Read More:Penny Stocks — How to Profit Without Getting Scammed

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.

Article printed from InvestorPlace Media, https://investorplace.com/2023/03/why-is-near-intelligence-nir-stock-down-17-today/.

©2024 InvestorPlace Media, LLC