IPO is discouraging in the times of bear market but Heart Test Laboratories decided to go public offering 1,500,000 units of common stock at an initial price of $4.25 per share. Yesterday it could raise around $6.375 million but in an hour 60% decline occurred.
Because of external factors, recently listed stocks will surely join the bleeding market but energy stocks are eighter growing or remaining flat. In the case of HSCS, no one is sure about its bullish pattern in the upcoming months.
Heart Test Laboratories is probably going to start surging continuously after the macroeconomic situation gets well. Holding the stock could put your capital at risk in short term. Maybe in a year, you will enjoy its doubled value.