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Why Is Ohmyhome (OMH) Stock Down 31% Today?


  • Ohmyhome (OMH) stock is falling on Tuesday morning.
  • That follows a rally yesterday on heavy trading.
  • Shares of OMH stock are still seeing heavy trading today as they retreat from yesterday’s gains.
OMH Stock - Why Is Ohmyhome (OMH) Stock Down 31% Today?

Source: ronstik / Shutterstock.com

Ohmyhome (NASDAQ:OMH) stock is taking a beating on Tuesday, but it’s not due to any recent news concerning the property management company.

Instead, OMH stock is giving up some of the gains it experienced during normal trading hours yesterday. That saw the shares rise 328.7% before the closing bell with some 1.2 million shares traded. For comparison, its daily average trading volume is about 201,000 shares.

Considering that massive rally on Monday, it makes sense that investors would see OMH stock lose some of its value today. It’s also worth mentioning that the company didn’t announce any news yesterday that explains why its stock was up.

What’s Happening With OMH Stock

Investors will note that OMH stock is still fairly new to the public market. The company only completed its initial public offering (IPO) on March 23. It’s possible this is attributing to its recent rally and losses as volatility continues to affect the shares.

As far as trading volume goes on Tuesday, OMH stock is still seeing heavy volume. As of this writing, more than 579,00 shares of the company’s stock have been traded. That also helps explain why the stock is down as investors sell shares after yesterday’s rally.

OMH stock is down 30.8% as of Tuesday morning.

There’s even more of the latest stock market news traders will want to read about below!

We have all of the most recent stock market stories investors need to know about on Tuesday! A few examples include why shares of Palantir (NYSE:PLTR), Erytech Pharma (NASDAQ:ERYP), and WeWork (NYSE:WE) stock are moving today. You can catch up on all of that news at the following links!

More Tuesday Stock Market News

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/2023/05/why-is-ohmyhome-omh-stock-down-31-today/.

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