PomDoctor (NASDAQ: POM), a leading online medical services platform for chronic diseases in China, saw its stock plummet 7.90% in after-hours trading on Wednesday, following a tumultuous debut on the Nasdaq. The significant drop came after a day of extreme volatility for the newly listed company.

PomDoctor had priced its initial public offering (IPO) at $4.00 per American Depositary Share (ADS), raising approximately $20 million by offering 5,000,004 ADSs. The stock initially surged 5% in early trading, showcasing strong investor interest. However, sentiment quickly shifted, with the stock reversing course and closing 6.25% lower during the regular trading session.

The continued sell-off in after-hours trading suggests ongoing investor concerns about PomDoctor's valuation and growth prospects in the competitive Chinese healthcare market. Analysts speculate that the volatile performance could be attributed to profit-taking by early investors, reassessment of the company's potential, and broader market skepticism towards Chinese tech stocks amid regulatory uncertainties. As PomDoctor faces its first full day of trading, investors will be closely watching to see if the company can regain market confidence and stabilize its stock price.