On April 4th, Ispire (stock code ISPR), a manufacturer of vaporizing devices, was officially listed on NASDAQ, becoming the first CBD vaporization stock in the US stock market.
According to relevant information, Ispire is headquartered in Los Angeles and specializes in the manufacturing and sales of electronic cigarettes and cannabis vaporization equipment. The company sells its cannabis e-cigarette products in the United States, Canada, and Europe, but stopped its US e-cigarette sales business in 2020.
After the IPO was scaled down to issue 2.7 million shares to raise $19 million, its stock price soared by 34% on the first day of listing, then fell to a level slightly above the issue price.
Ispire opened at $8.53 and then reached a high of $9.38 around 11:10 am Eastern Time. As of the end of the first day of listing, Ispire’s stock price was $7.55, with a total market value of $400 million.
