IPOS - HashiCorp stock rallies 18% but still trading 50% below IPO price

HashiCorp (NASDAQ:HCP) stock rallied 18% on Tuesday, but was still trading 50% below its initial public offering price of $80 per share. Shares of the cloud infrastructure company last changed hands at $39.90 at 1:15 p.m. ET. The stock opened at $34.94 and slipped to $34.74 before climbing to reach $42.44 and then dipping again. The stock hit a 52-week high of $102.95 on Dec. 27 and a low of $31.36 on March 14. On Dec. 9, HashiCorp priced 15.3M shares at $80 per share, raising around $1.2B.

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HashiCorp stock rallies 18%, but still trading 50% below IPO price