Huadi International Rally Ends, Stock Slips 40%

Shares of Huadi International Group Co., Ltd. (HUDI) are slipping nearly 40% on Friday morning despite no stock related news to negatively impact the shares.

HUDI is currently trading at $17.20, down $11.10 or 39.22%, on the Nasdaq. The stock had been on a strong rally since its debut in February. In the one-month period ending on October 28, the stock had gained over 560%. The stock closed yesterday's trading at $28.30.

Huadi International manufactures and sells industrial stainless steel seamless pipes and tubes in China. The company's products are used in several industries, including the oil and gas transmission, chemistry engineering, food processing, medical devices, aeronautics and astronautics.

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