Newly public Oriental Culture, Scopus BioPharma stocks more than triple ahead of the open

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Shares of Oriental Culture Holding Ltd. more than tripled (up 204.3%) in premarket trading Thursday, as the Hong Kong-based provider of collectibles and artwork e-commerce services heads for its third session as a public company. The stock was up 216.6% head of the open on volume of 2.0 million shares. The company’s initial public offering of 5.07 million shares priced at $4 a share, and the stock closed its first day of trading on Wednesday 50% above that price at $6.00. The stock edged up 1.7% on Thursday to close at $6.10. Another IPO that is having a better second day that first day is Scopus BioPharma Inc. as the stock is also set to more-than triple Thursday (up 218.9% premarket). The New York-based biotechnology company, which engages in the development of therapeutics targeting the endocannabinoid system, had its 500,000-share IPO price at $5.50, and the stock closed its first-day of trading on Wednesday7.6% above that price at $5.92. The company’s went public at a time that the Renaissance IPO ETF has rallied 32.4% over the past three months while the S&P 500 has gained 10.3%.
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