Initial public offering hologram, night panoramic city view of Bangkok. The financial center for multinational corporations in Asia. The concept of boosting the growth by IPO process. Double exposure.

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Chinese chipmaker Nano Labs (NASDAQ:NA) stock sank 22% on Wednesday amid increased tension between the US and China over Taiwan.

Shares of the fabless chipmaker, which went public last month, opened at $9.22, reaching a $9.90 in early trading and a low of $6.80 in late afternoon. The stock recently changed hands at $7.20, down 22% from Tuesday’s close, at approximately 3:10 p.m. ET.

Nano shares have been volatile since the company held an $20M initial public offering on July 12. The stock was further agitated the week of July 20 over news that it planned to appeal a de-listing notice from Nasdaq related to gross proceeds requirements.

For a more in-depth look at Nano Labs, check out SA contributor Donovan Jones’s “Nano Labs Finalizes Proposed US IPO Terms”.

Image and article originally from Read the original article here.

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