Visionary Education stock now trading 52% below IPO price after rallying 525% in market debut

May 23, 2022 4:00 PM ETVEDUBy: Val Kennedy, SA News Editor

Financial term abbreviation IPO standing for Initial Public Offering on blue cube corner

DariaRen/iStock via Getty Images

Visionary Education Technology (VEDU) stock continued its downward slide on Monday, with shares now trading 52% below their initial public offering price after rallying 525% following their market debut.

Shares of the educational services company opened at $2.09, reaching a low of $1.82 in mid-afternoon trading. The stock last changed hands at $1.93, down 12%, at approximately 3:30 p.m. ET.

VEDU stock made its market debut on May 17, reaching at high of $28 and closing at $25, up 525% from its IPO price of $4 per share. The company raised $17M after offering 4.3M shares.

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