Waton Financial Limited - Ordinary Shares (WTF)

Waton Financial Ltd (NASDAQ:WTF) shares are trading lower Wednesday, pulling back after rallying nearly 400% following the company's IPO this week.

The stock closed at $19.85 on Tuesday, a nearly fivefold jump from its offering price.

Waton Financial Ltd. shares skyrocketed 396% on its first trading day, closing at $19.85 after pricing its IPO at $4 per share.

U.S. stocks closed higher on Tuesday, with the Nasdaq Composite climbing 0.9% to 17,449.89. The S&P 500 added nearly 0.4%, finishing at 5,633.07.