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Here's How EDIBLE GARDEN AG INCORPORATED Has Performed Since Its IPO

By Benzinga Insights

EDIBLE GARDEN AG INCORPORATED (NASDAQ:EDBL) opened up its shares for public trading for the first time since it filed for IPO in November 2021. The company agreed to initially offer 2.93 million shares to the public at a $5.00 per share. On its first day of trading, the stock decreased 3.67% from its opening price of $3.0 to its closing price of $2.89.

EDIBLE GARDEN AG INCORPORATED Performance On First Day of Trading

About EDIBLE GARDEN AG INCORPORATED and It's IPO

Edible Garden is a controlled environment agriculture ("CEA") farming company. We use traditional agricultural growing techniques together with technology to grow fresh, organic food, sustainably and safely while improving traceability.

For its IPO, EDBL agreed to offer 2.93 million shares at a price of $5.00 per share, with an insider lock-up period of 180 days, ending on November 01, 2022.

An insider lock-up period is a period of time after a company first goes public where major shareholders are not allowed to sell their shares. The insider lock-up period makes sure that the market does not get oversupplied with shares of the company.

Traders may short the stock leading up to the lockup-period expiration date in hopes that the price will fall due to an increase in supply of shares. Retail traders should be watching this stock's short interest as it moves closer to lockup expiration.

See also: Benzinga's Most Shorted Stocks

This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Dive Deeper:
Here's How AUSTIN GOLD CORP Has Performed Since Its IPO
AUSTIN GOLD CORP (NYSE:AUST) opened up its shares for public trading for the first time since it filed for IPO…
Pepgen Inc. IPOs Tomorrow, Here's What You Need To Know
PepGen Inc. (NASDAQ:PEPG) IPO will take place May, 06 on the NASDAQ exchange under the ticker PEPG. The company is…
Preview: Wytec International, Inc Set To IPO Tomorrow
Wytec International, Inc (NASDAQ:WYTC) IPO will take place May, 06 on the NASDAQ exchange under the ticker WYTC. The company…
Looking Into Rocket Companies's Recent Short Interest
Rocket Companies's (NYSE:RKT) short percent of float has risen 7.96% since its last report. The company recently reported that it…
One subscription that gives you access to news from hundreds of sites
Looking Into Mastercard's Recent Short Interest
Mastercard's (NYSE:MA) short percent of float has risen 4.92% since its last report. The company recently reported that it has…
Peering Into Cigna's Recent Short Interest
Cigna's (NYSE:CI) short percent of float has fallen 15.67% since its last report. The company recently reported that it has…
Get all your news in one place