Youdao shares trading lower after IPO debut [MarketWatch]
Youdao, Inc. American Depositary Shares, each representing one Class A Ordinary Share (DAO)
Company Research
Source: MarketWatch
Youdao shares trading lower after IPO debut American depositary shares of Chinese education-technology Youdao Inc. DAO, -18.00% are falling Friday in their first day of trading. The shares opened at $13.50, below their IPO price of $17, and were recently trading near $14.15, which is 16.8% off from the listing price. The company raised $95.2 billion through the offering process , and Yaodao is raising a further $125 million through private placement of 7.35 million ordinary shares to certain funds managed by Orbis Investment Management Ltd. The offering comes as the Renaissance IPO ETF IPO, +1.64% has gained 25% on the year as as the S&P 500 SPX, +0.41% has shot up 21% in that time.
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News
- Youdao, Inc. (NYSE: DAO) was downgraded by analysts at Citigroup Inc. from a "buy" rating to a "neutral" rating.MarketBeat
- MoonFox Analysis | Large Models Implemented in K12 Online Education: Continuous Innovation and Upgrade of Product Functions in Off-campus Scenarios [Yahoo! Finance]Yahoo! Finance
- Youdao 2024 Annual General Meeting of ShareholdersPR Newswire
- Youdao Inc (DAO) Q3 2024 Earnings Call Highlights: Revenue Growth Amidst Strategic Shifts [Yahoo! Finance]Yahoo! Finance
- NetEase Q3 Earnings: Top Forecasts As Cloud Music Grows, Gaming Weakens [Yahoo! Finance]Yahoo! Finance
DAO
Sec Filings
- 11/26/24 - Form S-8
- 11/14/24 - Form SC
- 11/14/24 - Form 6-K
- DAO's page on the SEC website