Waton Financial Limited (WTF) experienced a significant 24-hour plunge of 14.65% in post-market trading on Wednesday, following the closing of its initial public offering (IPO) and the exercise of its overallotment option. This sharp decline comes after the stock had already dropped 63% during regular trading hours.

Earlier in the day, Waton Financial announced the successful closing of its IPO, raising approximately $20.1 million through the offering and the full exercise of the overallotment option. Despite this capital raise, investors seemed to react negatively to the stock, with trading volume surging to more than 8.7 million shares during regular market hours.

The dramatic post-IPO decline in Waton Financial's stock price reflects a broader trend of volatility often seen in newly public companies. This movement also aligns with the performance of other recent market debutants, such as Newsmax (NMAX), which experienced similar significant price swings following its NYSE listing earlier in the week.