Airtasker (ASX:ART) share price sinks 17% after explosive IPO

Airtasker Ltd (ASX: ART) shares have finally taken a breather after briefly touching $1.965 today. The Airtasker share price had surged 202% from its listing price of 65 cents to hit the intraday high today. 

However, the company’s shares have since been sold down and, at the time of writing, are trading 16.57% lower at $1.46. 

How did the Airtasker share price surge 200% in just three days? 

Initial public offerings (IPOs) can be highly volatile and unpredictable in nature. But it isn’t unusual for an IPO to deliver triple-digit returns in a short time frame.

Airtasker highlighted significant demand for its IPO, noting that it was more…