HMH Holding shares drop 5.5 percent in Nasdaq debut
Shares of Baker Hughes-backed HMH Holding fell 5.5% during their Nasdaq debut on Wednesday. The drilling equipment provider reached a valuation of $815 million.
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Shares of HMH Holding, a provider of drilling equipment, experienced a decline during their market debut on the Nasdaq on Wednesday. The company, which is backed by BAKER HUGHES CO, saw its stock price drop by 5.5% as trading commenced.
Following the decline in share price, the total market valuation for the firm was established at approximately $815 million. The debut marks a significant milestone for the equipment provider as it transitions into a publicly traded entity on the Nasdaq exchange. Baker Hughes Co remains a key stakeholder in the newly public drilling services firm.
