Capital, Earnings & M&A
Huanlejia's IPO: A Tale of Two Extremes, Can It Stay 'Happy' on the Capital Road?
Following the recent craze over Luckin's coconut latte, which was jokingly said to be 'never available for purchase,' consumers' love for coconut drinks has sparked another round of market discussion. Now, another coconut juice company has been 'drunk' to an IPO. On June 2, Huanlejia Food Group Co., Ltd. (300997.SZ, 'Huanlejia') officially listed on the ChiNext board of the Shenzhen Stock Exchange. At the opening today, the stock price began to decline, unlike yesterday's surge of over 500%. As of the midday close, Huanlejia's stock price was reported at 28.07 yuan per share, down 9.45%, with a market value of 12.63 billion yuan.
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