11:16 AM EDT, 04/02/2024 (MT Newswires) -- Massimo Group (MAMO) shares debuted Tuesday on the Nasdaq and fell 33.8% to $2.98 per share in recent trading, below the initial public offering price of $4.50 apiece.

The company's IPO consists of 1.3 million shares for gross proceeds of $5.85 million.

The offering is expected to close Thursday, the company said.

Price: 2.98, Change: -1.52, Percent Change: -33.79