JCSE - Industrial cleaning services provider JE Cleantech sees stock drop 22%

Industrial cleaning services provider JE Cleantech (JCSE) saw its stock drop 22% in afternoon trading on Tuesday. Shares of the Singapore-based company, which held its initial public offering in late April, opened at $14.29, sliding to a low of $11.50 in late morning. The stock recently changed hands at $11.71, down 22%, at around 3:00 p.m. ET. JE Cleantech held its IPO on April 22, raising $12M. The stock rallied 375% its first day to close at $19 per share. The company’s shares have been highly volatile since its IPO, hitting a 52-week high of $23.99 on April 22 and a 52-week low of $3.61 on April 28. For more IPO news, check out SA’s IPO News page.

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Industrial cleaning services provider JE Cleantech sees stock drop 22%