India’s Paytm crashes in market debut, business model questioned

India's Paytm crashes in market debut, business model questioned

MUMBAI, Nov 18 (Reuters) – Indian digital payments firm Paytm (PAYT.NS) tumbled 25% on its maiden day of trade, with investors questioning its lack of profits and the lofty valuations it gained in the country’s largest-ever IPO.While there had been some expectations that Paytm’s market debut could underwhelm, the steep plunge on Thursday was astonishing.Shares … Read more

Rivian pre-order customers made over $240 million in profit on IPO pop

Rivian pre-order customers made over $240 million in profit on IPO pop

Rivian electric trucks are seen parked near the Nasdaq MarketSite building in Times Square on November 10, 2021 in New York City.Michael M. Santiago | Getty ImagesRajiv Patel, an environmental consultant in Austin, Texas, put down a $1,000 deposit on a Rivian electric SUV earlier this year. He has no idea when he’ll get his … Read more