HomeBusinessAstralis Group's Stock Falls 17% since IPO

Astralis Group’s Stock Falls 17% since IPO

Comprising of Future FC, Origen and Astralis, Astralis Group's share price dips 17% since the IPO.

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Astralis Group – parent company of Future FC, Origen and Astralis was reported to be the foremost esport team to go public with an Initial Public Offering (IPO). On the contrary, most of the other prominent organizations have followed the seed funding through venture capitalists approach.

Astralis Group launched the IPO at 8.95 DKK (1.33 USD as on 17/01/20) on First North Growth Market in the second week of December 2019. However, as of today, Astralis Group’s stock is trading at 7.42 DKK (1.11 USD) which distinctly shows a 17% dip.

At certain point between today and the launch of IPO, the share price even fell down to 6 DKK (0.89 USD as on 17/01/20) which might have been an alarming situation considering an approximate 33% fall in the share price in initial days.

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However, considering the fact that Astralis Group has never been profitable in their books of accounts, might be a concern for investors in early stage though this seems an astonishing long-term prospect.

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