IVDA - Iveda Solutions stock tumbles 19% trading 42% below IPO price

Newly public Iveda Solutions (IVDA) stock tumbled 19% in midday trading Thursday, with shares now trading 42% below their initial public offering price. Shares of Iveda recently changed hands at $2.45, down 19%, at approximately 12:40 p.m. ET. The stock opened at $2.74. Iveda held its IPO on April 1, uplisting to Nasdaq and raising $8M. The company offered 1.9M shares and accompanying warrants for $4.25 apiece. It conducted a 1-for-8 reverse stock split on March 31 ahead of the Nasdaq listing. Based in Arizona, Iveda is a provider of AI-based video search technology for video surveillance and Internet of Things devices and platforms. On Thursday, shares of Iveda rallied in early trading on news that is products had been spec’d into Taiwan’s Taoyuan Aerotropolis project.

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Iveda Solutions stock tumbles 19%, trading 42% below IPO price