On July 7, Bending Spoons fell 5.65% in pre-market trading, trading at $35.48/share, with turnover of $231,600. The stock has been in a sustained retreat following its Nasdaq debut on July 1.

Bending Spoons priced its IPO at $29.00 per share, above the initial guidance range of $26.00-$28.00, raising approximately $1.68 billion with a valuation of around $18 billion. The stock surged roughly 40% on its first day, briefly trading above $40. However, it has since faced concentrated profit-taking pressure, falling 11.28% on July 3 and another 6.29% on July 6, with the pre-market decline marking a third consecutive session of losses.

The Italy-headquartered company grows through acquiring and optimizing digital businesses, operating brands including AOL, Eventbrite, and Vimeo. It has completed over 50 acquisitions, with more than 500 million monthly active users and over 9 million monthly paying subscribers. Revenue reached $1.6 billion in the trailing twelve months through March.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)