OST - Ostin Technology stock drops 21% in wake of Tuesday's rally

Ostin Technology (OST) shares dropped 21% Wednesday after rallying 57% during the previous session. Shares of the display components maker opened at $4.08, hitting a high of $4.29 in early trading before sliding. The stock recently changed hands at $3.75, down 21%, at around 3:00 p.m. ET. OST shares have been volatile since the company went public on April 27, closing 892% higher for their first session. The stock plunged 88% the next day. The stock shifted gears on Tuesday, climbing 57% to close at $4.75. For its IPO, OST priced 3.38M ordinary shares at $4 per share, raising $13.5M. Underwriters were given a 45-day option to buy up to 506K additional shares at the public price. Prime Number Capital is serving as lead bookrunner. For a more in-depth look at Ostin, check out SA contributor Donovan Jones’s “Ostin Technology Group Aims for $13.5M US IPO”.

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Ostin Technology stock drops 21% in wake of Tuesday's rally