Drecom update 2/20

The markets just closed here in Tokyo, and Drecom shares ended the day where they began, at the bottom of the allowed single day price fluctuation range, down JPY1million (-17.79%) at JPY4.62 million, after having dipped above JPY5million during the day’s trading.

That means JPY2billion was wiped off the company’s valuation in one day, but looking on the bright side (if you got a slice of the IPO action), the shares are still worth more than six times the IPO float price….

Stay tuned to see if this blog software/service and search advertising firm’s share prices rebound or if this is the beginning of a slow and painful downwards descent…