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The stock price of Freshworks Inc, on Friday, slumped by 11.89 per cent to a record low of $28.46 on the Nasdaq. This is the first time since its listing on September 22, the stock price has dropped below $30.
Post the decline in stock price, the company’s market cap stood at $7.49 billion as against $8.12 billion on Wednesday. It was at over $13 billion at the time of listing.
On Friday, the stock at $32.2, hit an intraday high of $32.2 and a low of $27.94, before closing at $28.46.
The 52-week high of the stock price was $53.36.
The volume of shares traded on Friday was 2.78 million while the average volume so far has been 2.46 million, according to Nasdaq.
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