The last year of 2018 might have been the year remembered by an extraordinary number of prominent and newly upcoming IPOs, while many companies and tech startups went on with their plans of issuing public shares, however, 2018 was definitely not remembered by a Chinese-owned MOGU – a company that owns a fashion app known as Mushroom Street.
Mushrooms Street or Mogujie owner didn’t end the welcoming IPO sale with success, while the company itself had cut their public offer evaluation ahead of going public, which perhaps reflected badly onto investors decision to partially ignore MOGU as a profitable share at the beginning of its “public life”.
Moreover, MOGU is still defying all odds despite the rocky beginnings, currently showcasing rises in its share price, while trading above its starting price from back in 2018 when MOGU first opened for public traded as an IPO.
MOGU (MOGU): How is MOGU Doing in the Market in 2019 After its 2018 Debut?
MOGU probably started on the wrong foot as the company managed to raise 67 million dollars with its initial public offering, initially cutting its IPO estimates and deciding to trade at low prices for the opening trade.
MOGU set the starting price for their IPO between 14$ and 16$ per one share, however, investors didn’t respond as expected, so MOGU eventually opened at 12.53$, -14% down in its share price already at the beginning.
The fact that MOGU represented a company yet unable to offer a business plan that would make it profitable in its sector probably reflected on the way investors welcomed MOGU, or did not welcome judging by the poor outcome in the beginning.
However, MOGU is traded at 13.41$ per share as the second quarter of 2019 started with April, scoring 4.36% of gains with the last closing.