Why Cheche Group Stock Plumeted Today

Cheche Group Inc. (NASDAQ: CCG) shares traded lower Monday amid continued volatility following the company's business combination with Prime Impact Acquisition last week.

What To Know: Last Monday, Cheche announced the completion of a previously announced business combination with Prime Impact Acquisition. The company's Class A ordinary shares and warrants began trading on the Nasdaq Stock Market under the ticker symbol "CCG" on Sept. 18.

Last Monday, on its first day of trading, the stock closed at $74.75, up more than 500%. Since then, shares have been volatile with the stock trading lower by 17.98% at market close Monday. 

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CCG Price Action: Shares of CCG are up 1.44% at $16.24 in the after-hours session at the time of publication, according to Benzinga Pro.

Photo: Gerd Altmann from Pixabay