Knorex Ltd (NYSE American: KNRX) saw its stock price plummet 9.50% in intraday trading on Monday, marking a disappointing debut for the company following its initial public offering (IPO). The significant drop comes after Knorex announced the pricing of its $12 million IPO earlier in the day.

According to the company's announcement, Knorex priced its IPO at $4.00 per share, offering a total of 3 million Class A ordinary shares. The shares began trading on the NYSE American exchange under the ticker symbol 'KNRX'. However, the market's initial reaction suggests that investors may have concerns about the company's valuation or growth prospects.

The sharp decline in Knorex's stock price on its first day of trading highlights the challenges and risks associated with IPOs, particularly in the current market environment. Investors will likely be closely watching the stock's performance in the coming days to gauge market sentiment and the company's potential for long-term growth.