Newly public Forge Global (FRGE), which recently merged with SPAC Motive Capital (MOTV), saw its stock rocket 164% during its market debut on Tuesday.
Shares of the private securities marketplace recently changed hands at $19.45, up 92%, at approximately 11:50 a.m. ET. The stock opened at $11.06, hitting a high of $26.70 in late morning action, up 164% from the stock’s Monday closing price of $10.11.
Motive Capital announced last week that its shareholders had approved a merger with Forge. The deal closed on March 21.
The companies announced plans to merge in September 2021, with the deal valuing the proposed combined company at around $2B.
Source : https://seekingalpha.com/news/3816088-forge-global-stock-rockets-in-market-debut