Forge Global falls 13%, day after rise 29%

Forge Global (FRGE) stock fell 13% on Wednesday morning, the day after the stock rose 29%.

Shares in the private securities The marketplace opened at $ 17.46, rising to $ 17.99 before falling to $ 15.55. The stock last changed hands at $ 15.99, down 13%, around noon. 10:45 ET.

Forge shares have been volatile in recent days and have risen 35% over the past five sessions. It peaked at 52 weeks at $ 47.50 on March 31st.

The company went public through a merger with SPAC Motive Capital on March 22, with shares rising during their market debut to close 60% higher.

Forge and Motive Capital announced plans to merge in September 2021, with the agreement valuing the proposed combined company at about $ 2 billion.