Chinese supply chain management company Weimoi Holdings (MJID.US) made its debut on Nasdaq and saw a sharp drop of 45% on its first day of trading.

According to the Zhixun Financial News app, Majestic Ideal Holdings, a company that provides supply chain management services for Chinese clothing enterprises, was listed on the Nasdaq last Friday at a price of $6 per share, issuing 2.5 million shares and raising $15 million. The pricing was at the lower end of the previously announced range of $6 to $7. On the first day of trading, the stock fell by 45%, and as of drafting, it fell by 6.36% in after-hours trading, closing at $3.09.