reAlpha Tech (AIRE) completed the year's fourth direct listing on Monday, and it's the latest to deliver extremely volatile trading in its first days as a public company.
The short-term rental operator listed on the Nasdaq and soared on its first day, reaching an intraday high of $575 with little volume. It ended the day just shy of $407, a nearly 4,000% premium to the $10 price per share of its January 2023 Regulation A offering. Most of the company's initial gains were wiped out by the end of day two, as shares fell 75% on Tuesday to $100.
At the $10 Reg A price, reAlpha would be worth...
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