Shares of Urban Company rise 8%; this is why October 16 is a crucial trading day for the company.

On Wednesday, October 15, shares of Urban Company Ltd., a recently listed home service provider, are up as much as 8%, ending a five-day losing skid that had brought the company below its listing price. Over the previous five trading sessions, the stock had dropped 12%, reaching an intraday low of ₹149.69 and falling below its listing price of ₹162 a share. Following this recent surge, the stock has once again exceeded its listing price. The stock had dropped 26% from its post-listing peak of ₹201 per share by Tuesday's day's low. As the company's one-month shareholder lock-in period draws to a close, Thursday, October 16, is a crucial trading day.