Nerdy (NYSE: NRDY), a tutoring marketplace start-up, agreed to go public by merging with the special purpose acquisition company (SPAC) TPG Pace Tech Opportunities (NYSE: PACE) back in January. The merger closed on Sept. 20, and the new shares started trading on Sept. 21.
Nerdy's stock price rose 3% and closed at $11.56 on the first day, then continued climbing to an intra-day high of $13.49 the following day. However, the stock quickly lost its luster and only trades at about $9 per share as of this writing.
Could Nerdy's stock still be worth buying after its disappointing public debut?
Source Fool.com