-- Mobvoi Inc., a Chinese artificial intelligence developer backed by Alphabet Inc.’s Google, finished its first day of trading lower in Hong Kong, marking the third stock debut to flop in the city this week.The shares ended 3.2% lower even after they were sold near the low end of the indicated price range for its initial public offering. The company and its shareholders raised HK$321 million , much lower than $200 million to $300 million it was said to be targeting last year.
The disappointing debut adds pressure to Hong Kong’s ailing equity capital market, which saw IPO proceeds decline last year to the lowest level in over two decades amid concerns on China’s economic growth. On Tuesday, bubble-tea maker Sichuan Baicha Baidao Industrial Co. fell 27% in its first session, following the largest IPO in the city since November.Mobvoi’s stock slumped as much as 22% early in the session, recovering most of the losses to end below the IPO price at HK$3.68.
NEW YORK -Former President Donald Trump agreed on Monday to additional restrictions on the $175 million bond in the former U.S. president's New York civil fraud case, resolving concerns by the state attorney general that the funds were not secure. The bond issued by Knight Specialty Insurance is meant to secure Trump's compliance with a $454.2 million judgment won by state Attorney General Letitia James if he does not succeed in an appeal.
The upgrade comes after BCE's stock plummeted to its lowest intraday level in more than 10 years earlier this month.In this piece, we will take a look at Cathie Wood’s latest investment portfolio and her top ten stock picks. If you want to skip our coverage of Ms. Wood, her investment firm, and the latest stock market news, then you can take a look at Cathie Wood’s Latest Stock Portfolio: Top 5 Stock Picks.
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