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Applied Aerospace Stock Drops 7.9% Below IPO Price in First Week of Public Trading
- Applied Aerospace & Defense stock dropped below its initial offering price during its first week of trading.
- The stock closed at $18.41, down 7.95% from its $20.00 IPO price on high volume of 1.4 million shares.
- This soft debut reflects near-term market caution despite the company's strong initial valuation of $3.54 billion.
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Conclusion
IPO price of $20.00, June 10 close of $18.41 (7.95% decline), volume of 1,402,327 shares, and initial valuation of $3.54 billion.