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IPO Roundup: Traders cash in on Fiverr; Mohawk Group struggles post-IPO

The digital marketplace for freelance work priced at $21 and by the end of its first day of trading had climbed all the way to $39.90

Money piling up
Fiverr is a Tel Aviv-based company that connects employers with freelance employees for voice over work, design, translation and more

Fiverr International Ltd (NYSE:FVRR) has lost some ground a day after its high-octane IPO.

The digital marketplace for freelance work priced at $21 and opened at $26. By the end of its first day of trading, its share price had climbed all the way to $39.90. Fiverr is a Tel Aviv-based company that connects employers with freelance employees for voice over work, design, translation and more.

On Friday, traders are cashing in some of those early gains, dropping the price 8.2% to $36.62.

READ: IPO Roundup: AI cybersecurity firm CrowdStrike flourishes in public debut

Mohawk, an AI driven consumer products company, has struggled since its Wednesday IPO. It priced at $10, below its expected range of between $14 and $16, which raised $36 million. 

The New York-based company with offices in Canada, China and the Philippines uses artificial intelligence to track e-commerce trends. It’s signature product, the AI Mohawk E-commerce Engine (AIMEE) providers live market data and in-depth analytics.

Shares have continued to trend lower, dropping 5.1% to $8.70.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

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