Newly public Addentax Group ( NASDAQ: ATXG ) stock continued its wild ride on Friday, tumbling 27% in early trading after plunging 95% on Thursday.
Addentax shares opened at $29.53 before sliding. The stock recently changed hands at $22.02 at approximately 9:55 a.m. ET.
On Wednesday, Addentax uplisted its shares from the OTC market and offered 5M shares at $5 apiece. The shares were halted several times for volatility, eventually eventually closing at $656.54, up 8,654% from Tuesday's OTC close of $7.50.
The shares reversed course on Thursday, plunging 95% to close at $30.
Incorporated in Nevada, Addentax operates primarily through subsidiaries in China, providing services such as garment manufacturing, epidemic prevention supplies manufacturing and distribution, logistics and property management. The company is headquartered in Shenzhen, China.
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Newly public Addentax stock tumbles 27% after plunging 95% in prior session