Viomi was founded back in 2014, backed by the Chinese tech giant, Xiaomi, which also became a publicly traded company right before Viomi reached the market with their IPO, while in accordance with official information found on the official website, Viomi is currently working on IoT based products.
IoT or the Internet of Things operations are gaining more on appreciation with the rising popularity of this disruptive concept, with Viomi representing a profitable company with a generous growth rate, which made it one of the China’s favorite tech gems.
While making a huge contribution to Chinese economy, Viomi is showcasing progressing in the market as well as its share price improved in oppose to the first quarter of 2019.
How Well is Viomi (VIOT) Doing in the Market in 2019?
Back during the end week of September, Viomi went public on Nasdaq, approved for a listing under the thicker (VIOT) as the company decided to issue 11.4 million A class shares.
The estimated value of the IPO was set at 1.87 billion dollars, while Viomi managed to raise 102.6 million at the opening session, starting the initial trade at the price of 9$ per share.
At one point during the initial sale, Viomi shared almost touched 11$ per share at the price of 10.95$, however, the price went back down to 8.97$ below the opening price right before the closing of the session.
Moreover, Viomi shares seem to be doing more than well after the last quarter of 2018 and the first quarter of 2019, as the share touched the value of 12$ on March 25th, slightly sinking to 11,42$ with the latest closing.
As the price of VIOT share is seen in a slight decline with the latest trading session, the price could get back to 10$ in case the downward trends persist.