Why BlueCity Holdings Is Tumbling 15% Today

Shares of BlueCity Holdings (NASDAQ: BLCT), a Chinese LBGTQ+ dating app, were tumbling almost 16% in midday trading Monday.

BlueCity, which owns the Blued app, only went public last Wednesday, soaring 46% in its debut and raising $85 million. It sold 5.6 million shares to the public.

Image source: Getty Images.

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Source Fool.com