Hang Feng Technology Innovation Co., Ltd. (NASDAQ: FOFO) experienced a significant after-hours plunge of 21.05% on Friday, following a remarkable debut on the Nasdaq earlier in the day. The sharp decline comes in stark contrast to the stock's performance during regular trading hours.

Earlier on Friday, Hang Feng Technology shares had surged impressively in their trading debut. The stock opened at $5.25 and climbed more than 59% to reach $6.37, well above its initial public offering (IPO) price of $4 per share. The Hong Kong-based company, which provides management consulting and asset management services, had priced its IPO of approximately 1.4 million shares to raise $5.5 million in gross proceeds.

The dramatic after-hours drop suggests a potential correction or profit-taking by investors following the initial enthusiasm. It's common for newly listed stocks to experience volatility in their early trading days as the market adjusts to find an equilibrium price. Investors should note that after-hours trading often sees lower volume and wider spreads, which can lead to more pronounced price movements.