Navan (NAVN) Bounces Back 9.6% From Lowest Price

We recently published 10 Firms Stealing Market Spotlight Amid Bloodbath. Navan Inc. (NASDAQ:NAVN) is one of the best-performing on Tuesday.

Navan recovered by 9.63 percent on Tuesday to close at $18.89 apiece as investors hunted for bargains after hitting its lowest price during the intra-day trade.

During the session, Navan Inc. (NASDAQ:NAVN) fell to its lowest price of $16.01 before traders turned buyers to push its share prices higher at the close.

However, Tuesday’s closing price was markedly lower by 24 percent than its initial public offering price of $25 apiece.

Navan Inc. (NASDAQ:NAVN) debuted on the stock market last Thursday, successfully selling as much as $923 million from the issuance of more than 36.9 million shares at a price of $25 apiece.

Of the total, 30 million shares were sold by Navan Inc. (NASDAQ:NAVN), raising $750 million in fresh funds, while the remaining $123 million, covering 6.9 million shares, were sold by existing shareholders.

Navan Inc. (NASDAQ:NAVN) is an all-in-one business travel, payments, and expense management platform, offering users a streamlined experience for booking flights and hotels.

While we acknowledge the potential of NAVN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.