IPOS - Iveda stock plunges 23% Tuesday after soaring on Monday

Iveda Solutions stock plunged 23% on Tuesday after soaring on Monday. Shares of the AI-based video tech company opened at $2.69, hitting a high of $2.73 before sliding to $2.31 in late morning. The stock recently changed hands at $2.37, down 23%, at approximately 12:45 p.m. ET. On April 1, Iveda uplisted its shares to Nasdaq and held an $8M initial public offering. The company conducted a 1-for-8 reverse stock split ahead of the uplisting. Iveda shares have traded widely over the past few days and soared on Monday. The company has a market capitalization of around $25M, with approximately 11.4M shares outstanding.

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Iveda stock plunges 23% Tuesday after soaring on Monday