Tungray Technologies (NASDAQ:TRSG) stock is heading higher on Monday as the manufacturing solutions company’s shares continue to rally after its initial public offering (IPO) on Friday.
Tungray Technologies launched its IPO on Friday at a price of $4 per share for TRSG stock. However, the company’s shares underwent a massive rally that saw it climb above $11 per share before closing out Friday at $5.95 per share.
That rally continues today with shares of TRSG stock up 32.4% as of Monday morning. That comes with some 3 million shares changing hands as of this writing.
What’s Behind the TRSG Stock Rally?
Interest in TRSG stock is the main reason for the rally after its IPO. That’s not too surprising, as companies often attract extra attention during the days after they go public.
The more interesting thing traders will want to watch is the price of TRSG stock over the next few weeks. It’s possible that the company’s shares could continue to climb higher off of its positive IPO. On the flip side of that, the stock could also lose a good bit of its value if traders lose interest once the new stock smell has worn off.
Investors who are interested in more of the top stock market stories on Monday will want to stick around!
We have all of the hottest stock market news that traders need to know about today. Among that is what’s going on with shares of Express (NYSE:EXPR), Li Auto (NASDAQ:LI) and Adient (NYSE:ADNT) stock today. All of this info is good to go at the links below!
More Monday Stock Market News
- Is Express (EXPR) Stock on the Brink of Death After Bankruptcy Filing?
- LI Stock Alert: Li Auto Crumbles as Competition Forces Price Cuts
- Adient Layoffs 2024: What to Know About the Latest Adient Job Cuts
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.
