Shares of iOThree Limited (IOTR), a maritime digital technology provider, continued their downward trajectory with a 6.20% plunge in after-hours trading on Thursday. This decline follows a disappointing market debut earlier in the day, where the stock had already dropped 10% from its initial public offering (IPO) price.

The extended sell-off appears to be a continuation of investor disappointment stemming from the company's IPO pricing and first-day performance. iOThree had priced its IPO at $4 per share, offering a total of 2.1 million ordinary shares. The company raised gross proceeds of $6.6 million from its own share sales, which some market participants may have viewed as insufficient for the company's growth plans in the competitive technology sector.

As iOThree establishes itself in the public market, investors seem to be expressing concerns about the company's valuation and growth prospects. The continued downward pressure on the stock price in after-hours trading suggests that market sentiment remains cautious. Moving forward, the company will need to prove its worth to investors and demonstrate the value of its Jarviss platform and maritime digital technology solutions to reverse this negative trend.