Qudian Rushes Earnings Release as Stock Slumps Below IPO Price
Online microlender Qudian Inc. has moved up its earnings release date, seeking to ease investor jitters as its shares sank below their initial public offering (IPO) price on concerns about its business model.
On Thursday, Qudian’s American Depositary Shares (ADSs) in New York dived 13.6% to $22.80. The shares have been on a roller-coaster ride in the six days since they were listed on Oct. 18. After rising as high as $34.90 on Oct. 19, they now trade below their IPO price of $24.
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