Addentax shares opened at $29.53 before sliding.
On Wednesday, Addentax uplisted its shares from the OTC market and offered 5M shares at $5 apiece. The shares were halted several times for volatility, eventually eventually closing at $656.54, up 8,654% from Tuesday's OTC close of $7.50.
The shares reversed course on Thursday, plunging 95% to close at $30.
Incorporated in Nevada, Addentax operates primarily through subsidiaries in China, providing services such as garment manufacturing, epidemic prevention supplies manufacturing and distribution, logistics and property management. The company is headquartered in Shenzhen, China.
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