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Stock impact report

Google-Backed AI Firm Is Hong Kong's Latest Stock Debut Flop [BNN Bloomberg (Canada)]

Alphabet Inc. - Class C Capital Stock (GOOG) 
Last alphabet inc. - class c capital stock earnings: 4/28 04:02 pm Check Earnings Report
US:NASDAQ Investor Relations: abc.xyz/investor
Company Research Source: BNN Bloomberg
of trading in Hong Kong, marking the third stock debut to flop in the city this week. The shares tumbled 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 ($41 million), much lower than $200 million to $300 million it was said to be targeting last year. The slide also contrasted with gains in Hong Kong and Asian stocks markets Wednesday. Known for its Ticwatch smartwatches and Chumenwenwen voice-activated search services, Beijing-based Mobvoi was founded in 2012 by a group of former Google employees. It drew Alphabet's backing just three years later, marking the US tech giant's first direct investment in China since withdrawing its search engine from the country in 2010. The failed 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 T Show less Read more
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