IPO Report: ‘Skyfall’ for Aston Martin shares as they tumble more than 7% in London debut

It was looking like “Skyfall” for Aston Martin in London on Wednesday, as shares of the famed carmaker got a less-than-enthusiastic reception in a stock-market debut that valued the company at £4.33 billion ($5.6 billion).

Shares began trading under the ticker ASTM at the offering price of 1,900, but steadily moved lower and didn’t look back. Aston Martin was last down 7% to 1,770 pence.

“It does look as though Aston Martin will not join the FTSE 100, with the valuation a little short of where it needs to be and early indicators pointing to investors not being excessively bullish on this stock,” said Neil Wilson, chief market analyst for Markets.com.

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