Waton Financial Limited (WTF) experienced a significant 24-hour plunge of 14.65% in post-market trading on Wednesday, following a turbulent period after its recent initial public offering (IPO). The dramatic decline comes on the heels of the company's announcement regarding the closing of its IPO and the full exercise of the over-allotment option.

Earlier in the day, Waton Financial reported that it had successfully raised approximately $20.1 million through its IPO and the exercise of the overallotment option. However, the stock's performance took a sharp downturn, with intraday trading seeing a staggering 63% drop and more than 8.7 million shares changing hands. This volatility suggests a potential market correction following the initial enthusiasm surrounding the company's public debut.

The abrupt reversal in Waton Financial's stock price may be attributed to profit-taking by early investors or a reassessment of the company's valuation by the market. As is often the case with newly listed companies, particularly those that experience significant gains immediately after their IPO, subsequent price adjustments can be substantial. Investors and analysts will be closely monitoring Waton Financial's performance in the coming days to gauge whether this decline represents a temporary setback or a more prolonged trend.