Valens Stock Plunges on First 2 Days of NYSE Trading

Valens Semiconductor shares finished their first day trading on the New York Stock Exchange in the red. The stock fell 4.4% Thursday to close at $7.40, dropping to $7.16 in after-hours trading. HDBaseT originator Valens went public with Wednesday’s closing of its $1.16 billion “business combination” with special purpose acquisition company PTK (see 2109290047). The stock closed another 10.1% lower Friday at $6.59.