By Ben Glickman
Shares of Gamer Pakistan tumbled Monday after making their trading debut.
The stock was down 36% to $2.55 by mid-afternoon. Shares peaked at $4.39 shortly after they began trading before noon.
The e-sports company, which is the first Pakistani group to list on an American stock exchange, sold 1.7 million shares for $4 each in its initial public offering.
The company is trading on the Nasdaq under the symbol GPAK.
Gamer Pakistan seeks to create esports events for university students and professionals. The company currently has no revenue.
Write to Ben Glickman at [email protected]
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