The provider of industrial cleaning services JE Cleantech (JCSE) saw its stock fall 22% in afternoon trading on Tuesday.
Shares of the Singapore-based company, which held its listed offering at the end of April, opened at $ 14.29 and fell to a low of $ 11.50 late in the morning. The stock recently changed owners to $ 11.71, down 22%, around 6 p.m. 15:00 ET.
JE Cleantech held its IPO on April 22, raising $ 12 million. The stock rose 375% its first day to close at $ 19 per share.
The company’s shares have been very volatile since the IPO, reaching a 52-week high of $ 23.99 on April 22 and a 52-week low of $ 3.61 on April 28.
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