OwlTing's parent company OBOOK falls below $10! It has already returned 85% in a week since its listing on Nasdaq.

The parent company of OwlTing, OBOOK Holdings, went public in the United States, with its stock price soaring from a big pump of 580% in the first week to a pullback to the suggested issuance price. (Background: Taiwan's OwlTing Group faced a big pump that triggered a circuit breaker on Nasdaq, followed by a rapid price decline.) (Additional context: Taiwanese stablecoin infrastructure company OwlTing went public in the U.S.! Directly listed on Nasdaq on 10/16, stock code OWLS.) In October, Nasdaq welcomed the newcomer from Taiwan's blockchain, OBOOK Holdings, (OWLS), which was directly listed on Nasdaq on October 16, with its stock price skyrocketing from a reference price of $10 to $68, a big pump of 580%; it closed nearly 20% lower, and in the following days, it saw multiple 50% slumps, and the peak faded in less than a week. As of the deadline, the pre-market quote was $10.33. Image source: Yahoo Finance. The extreme test after the enthusiasm. The direct listing lacked a green shoe mechanism (during an IPO, underwriters have the right to sell an additional 15% of the original issuance above the offering price), and internal holdings could be sold immediately, leading market participants to speculate that OwlTing might face heavy selling pressure. The listing bell is just a prelude; the market will then look at the stable cash flow or product narrative. The next financial report of OWLS will reveal the fundamentals, marking the true moment to determine whether this owl can continue to fly. Related reports: Taiwan's New Taiwan Dollar is set to be redesigned! Issued in 2028, goodbye to Sun Yat-sen, Chiang Kai-shek, and the Formosan sika deer. South Korea introduces 'destructive housing policies' where high-priced properties can only have loan amounts of less than 10%; should Taiwan learn from this? “OwlTing's parent company OBOOK drops below $10! It has already pulled back 85% after listing on Nasdaq for a week,” this article was first published in BlockTempo, the most influential blockchain news media.