Shares of Chinese bubble tea maker Guming (01364.HK) plummeted 6.04% in the intraday session on Wednesday, following a disappointing performance on its Hong Kong trading debut earlier in the day.
The company's stock price rose just 0.6% in its initial public offering (IPO) on the Hong Kong Stock Exchange, despite Guming raising $232 million in the IPO. The lackluster debut trading performance likely led to investor disappointment, causing the stock to plummet throughout the day.
Guming's poor trading debut could be a reflection of investor concerns about the company's prospects or the overall market sentiment towards IPOs in the region. As a newly listed company, Guming will need to prove its growth potential and execution capabilities to regain investor confidence.
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