Newly public Austin Gold (AUST) stock fell 13% Monday morning, trading 36% below its initial public offering price.
Shares of the Canadian gold mining company opened at $2.70, recently changing hands at $2.58, down 13%, at approximately 10:10 a.m. ET.
AUST held its IPO last Wednesday, offering 3.27M shares for $4 per share to raise around $13M. The stock soared as high as $29 before sliding to close at $4.37.
For more IPO news, check out SA’s IPO News page.