Metis TechBio's stock plummeted 5.55% intraday, continuing its retracement from an explosive initial public offering debut earlier this week.
The decline brings the stock closer to third-party relative valuation estimates, suggesting the market is reassessing the initial premium after the company's IPO surged over 120% on its first day of trading. Metis TechBio remains unprofitable with significant net losses, contributing to the downward pressure.
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