SIGENERGY's stock plummeted 5.19% intraday, as the shares extended their retreat from the highs reached after a blockbuster initial public offering.

The decline follows the stock's extraordinary debut last week, when it surged over 100% on its first trading day. Market participants have highlighted significant concentration risks within the company's business model, with approximately 90% of revenue coming from a single core product line and nearly all sales generated from overseas markets.

This structural dependency is negatively impacting investor sentiment, prompting a sell-off as the stock adjusts from its elevated post-IPO valuation.