CCH Holdings Ltd. (CCHH), a Malaysian hotpot restaurant chain, experienced a significant after-hours plunge of 6.31% on Friday, following a remarkable surge during its first day of trading on the Nasdaq. The stock's volatility comes on the heels of its initial public offering (IPO) priced at $4 per share.

During regular trading hours, CCH Holdings saw an impressive debut, with shares soaring over 106% to reach $8.25. The company had priced its IPO at $4 per share, offering 1.25 million shares to raise $5 million. The strong initial performance reflected investor enthusiasm for the newly listed restaurant chain.

However, the after-hours plunge suggests a potential correction or profit-taking following the substantial intraday gains. Market analysts speculate that some investors may have seized the opportunity to cash in on the stock's rapid ascent, leading to the sharp decline in extended trading. The dramatic swing in share price highlights the volatility often associated with newly listed stocks, particularly in their first days of trading.