VIEWTRIX TECH's stock plummeted 10.14% during intraday trading on Friday, extending losses after its recent initial public offering.

The sharp decline comes as investors engage in profit-taking following the stock's strong debut, where it surged over 90% on its first trading day. Market participants are also digesting fundamental concerns highlighted during the IPO process, including valuation discrepancies where the company's IPO market capitalization was below its last private funding round valuation.

Additional concerns weighing on the stock include the company's accumulated losses over four years, low core AMOLED chip gross margins, high customer concentration with over 90% of revenue coming from its top five customers, and significant supply chain dependency with top five suppliers accounting for over 96% of procurement.