Navan IPO Falls 20% After Historic Market Debut Amid SEC Shutdown
Navan, the corporate travel and expense platform formerly known as TripActions, saw its shares tumble after its Nasdaq debut. The Navan IPO priced at $25 per share and raised roughly $923 million, but the stock closed sharply lower on its first day. Market watchers say the partial U.S. SEC shutdown and broader tech caution helped push the drop.
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