How to trade with Sierra Trading Company
Sierra Trading Co. says it is looking to sell its shares amid falling crude prices, but its stock is still trading below its IPO price.
In a blog post on Monday, the company said it would “evaluate the long-term value of the stock in the future,” and it said it was “reviewing” the potential of selling the company to a private investor.
The company, founded in 2014, has been trading on the New York Stock Exchange under the symbol SCT since it was founded.
Its shares are listed on the NASDAQ Global Select Market, the world’s largest market for publicly traded companies.
The IPO was intended to give investors a better idea of how the company’s oil and gas production and exploration activities would pan out.
Shares in the company have fallen to around $4.30 on Monday morning, according to data compiled by Bloomberg.
Shares of the company fell as much as 16% to $2.96 in New York’s stock market on Monday.