Tiny Telehealth Stock Sinks 85% as Wild IPO Rally Collapses [BNN Bloomberg (Canada)]
Mobile-health Network Solutions - Class A Ordinary Shares (MNDR)
Company Research
Source: BNN Bloomberg
The stock plunged as much as 85% in intraday trading Friday to $3.30 a share, below the company's $4 IPO price. The movement triggered multiple volatility halts. It's a swift reversal for the stock, which surged more than 580% in its first weeks of trading, making it one of the hottest US IPOs of the year. The stock began trading above its IPO price on April 10 and rallied to close at more than $27 a share at its peak, pushing the company's market value to more than $925 million at the time. Friday's plunge erased $638 million from the company's valuation, bringing it to about $112 million. The telehealth provider brought in $7.9 billion in revenue in the fiscal year through June 30, though it lost about $3.2 million in the period. Mobile-Health Network Solutions' IPO was led by Network 1 Financial Securities Inc., a little-known New Jersey brokerage with a history of wild stock offerings. The offering this year was the firm's first since 2022. Read more: Tiny NJ Broker Behin
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News
- Mobile-health Network Solutions Offers GLP-1 Injectables for Medical Weight Loss from $10/day [Yahoo! Finance]Yahoo! Finance
- Streamline Today, Predict Tomorrow: MNDR's AI-Powered Health Operating System Optimizes Operations and Powers Predictive Healthcare [Yahoo! Finance]Yahoo! Finance
- Streamline Today, Predict Tomorrow: MNDR's AI-Powered Health Operating System Optimizes Operations and Powers Predictive HealthcareGlobeNewswire
- Mobile-health Network Solutions Revenue Rises Approximately 120% in the First Six Months of Fiscal 2024 [Yahoo! Finance]Yahoo! Finance
- Mobile-health Network Solutions Revenue Rises Approximately 120% in the First Six Months of Fiscal 2024GlobeNewswire
MNDR
Sec Filings
- 5/21/24 - Form 6-K/A
- 5/20/24 - Form 6-K
- 4/22/24 - Form 6-K
- MNDR's page on the SEC website