SU Group (NASDAQ:SUGP) stock is on the move Friday following the Hong Kong security services company’s initial public offering (IPO) earlier this week.
That IPO saw the company’s shares debut at a price of $4 each. The offering also included a total of 1.25 million shares of SUGP stock.
Shares of SUGP stock have been volatile since the company’s IPO. That saw it close out trading on Thursday down 22%. The closing price of the stock that day was $3.12 per share.
That volatility has continued into Friday with the stock initially seeing another drop during pre-market trading. However, the shares have recovered since then and are now up 9% as of Friday morning.
SUGP Stock Movement Today
The rise in SUGP stock today comes without much in the way of trading activity. As of this writing, only about 3,000 shares of the stock have changed hands. To put that in perspective, some 250,000 shares traded on Thursday and the company’s daily average trading volume is about 1 million shares.
Volatility following an IPO isn’t uncommon. Even so, it does mean that some traders will want to be careful about taking a stake in SUGP shares right now. It might be better to give the stock time to settle on the public market before making an investment in the company.
There are plenty of other stock market stories traders will want to read about on Friday!
Luckily, we have them ready to go with our coverage of the market today! That includes what’s going on with shares of Aptose Biosciences (NASDAQ:APTO) stock, Ekso Bionics (NASDAQ:EKSO) stock and Aclarion (NASDAQ:ACON) stock today. You can find out more on these matters down below!
More Stock Market News for Friday
- Why Is Aptose Biosciences (APTO) Stock Down Today?
- Why Is Ekso Bionics (EKSO) Stock Up 5% Today?
- Why Is Aclarion (ACON) Stock Up 109% Today?
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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.
