01:56 PM EDT, 07/18/2025 (MT Newswires) -- Majestic Ideal (MJID) shares plummeted more than 55% in recent trading Friday after opening lower than its initial public offering price.

The stock opened trading on Nasdaq Friday at $5.39 a share, about 10% lower than its IPO price of $6 per share.

The company said earlier that it expected to close its IPO of 2.5 million ordinary shares on Monday and raise gross proceeds of $15 million.

Price: 2.68, Change: -3.32, Percent Change: -55.33