Rail Vision Ltd (NASDAQ:RVSN) has opened its shares for public trading for the first time since its February 2022 filing. The company has agreed to initially offer 3.79 million shares to the public at $4.13 per share . On its first day of trading, the stock fell 1.59% from its opening price of $3.14 to its closing price of $3.09.
Performance of Rail Vision Ltd on the first day of trading
About Rail Vision Ltd and its IPO
Rail Vision Ltd is a development-stage technology company seeking to revolutionize rail safety and the data-driven market.
For its IPO, RVSN agreed to offer 3.79 million shares at a price of $4.13 per share, with an insider lock-in period of 180 days, ending September 27, 2022.
An insider lock-in period is a period of time after a company’s initial public offering during which major shareholders are not permitted to sell their shares. The insider lock-in period ensures that the market is not oversupplied with company stock.
Traders can short the stock until the expiry date of the lock-up period in the hope that the price will fall due to an increase in the supply of the stock. Retail traders should watch for short interest in this security as it nears lockout expiration.
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This article was generated by Benzinga’s automated content engine and reviewed by an editor.