Prestige Wealth, Inc. PWM shares are volatile Monday. The stock has been halted multiple times in early trading. Here's a look at what's going on.
What To Know:
PWM is bouncing around on heavy volume during Monday's trading session. The stock was halted on a circuit breaker to the upside after falling more than 25% in early trading.
PWM launched its initial public offering (IPO) of 1,000,000 ordinary shares at a price of $5.00 per ordinary share on Thursday. Prestige intends to use the proceeds from the IPO for brand promotion, the expansion of products and services, additional client relationship management and employees as well as general working capital.
Prestige is a wealth and asset management services provider based in Hong Kong focused on mainly high net worth and ultra-high net worth individuals.
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PWM Price Action: According to data from Benzinga Pro, Prestige Wealth shares are trading 19.22% higher at $22.76 at the time of publication.
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