Visionary Education’s stock now trades 52% below its IPO price after rising 525% on its debut

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Visionary Education Technology (VEDU) stock continued its downtrend on Monday, with shares now trading 52% below their initial issue price after rising 525% after their market debut.

Shares of the education services company opened at $2.09 and hit a low of $1.82 in afternoon trading. The stock last changed hands at around 3:30 p.m. ET at $1.93, down 12%.

VEDU stock made its market debut on May 17, peaking at $28 and closing at $25, up 525% from the IPO price of $4 per share. The company raised $17 million after offering 4.3 million shares.