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Janover (NASDAQ:JNVR) opened up its shares for public trading for the first time since it filed for IPO in October 2022. The company agreed to initially offer 1.41 million shares to the public at $4.00 per share. On its first day of trading, the stock fell 4.50% from its opening price of $4.0 to its closing price of $3.82.
Janover is a B2B fintech marketplace connecting commercial property borrowers and lenders with a human touch. The Company seeks to revolutionize the commercial real estate lending market by making it hyper-efficient, transparent, and accessible to all rather than the few.
For its IPO, JNVR agreed to offer 1.41 million shares at a price of $4.00 per share, with an insider lock-up period of 180 days, ending on January 21, 2024.
An insider lock-up period is a period of time after a company first goes public where major shareholders are not allowed to sell their shares. The insider lock-up period makes sure that the market does not get oversupplied with shares of the company.
Traders may short the stock leading up to the lockup-period expiration date in hopes that the price will fall due to an increase in supply of shares. Retail traders should be watching this stock's short interest as it moves closer to lockup expiration.
See also: Benzinga's Most Shorted Stocks
This article was generated by Benzinga's automated content engine and reviewed by an editor.
Posted In: JNVR
