I was having my instant coffee as shared in my earlier post when I saw Kimly Group stock, as expected defied gravity and shot to an high of $0.55 from an IPO price of $0.25. At that instant, the coffee in my mouth also shot through too. Kimly Group stock finally closed a little lower at $0.44 per share though it was still a stellar 76% rally in IPO stock price.
Kimly IPO reminded me of a recent IPO entrant on the US stocks: Snapchat stock. At an IPO price of USD17 per share, Snapchat stock went as high to above USD 26 before settling down to the current price of around USD 19 (based on the time of writing). I mean to draw the common up and down the stock price of these two IPO debutants have undergone.
But unlike Snapchat which has not turned profitable, …Read the full article →