Stock market fluctuations | Navan (NAVN.US) debuts on the US stock market, opening price drops

According to the Securities Times app, on Thursday, the enterprise travel and expense management platform Navan (NAVN.US) made its debut on the U.S. stock market, with the opening stock price trending downwards. As of the time of writing, the stock has dropped over 15%, to $21.1. The IPO price was $25. Navan was founded by Ariel Cohen and Ilan Twig in 2015, originally named TripActions, with its core business being enterprise travel management. The company was established to revolutionize the traditional travel service model, which was previously mainly provided by companies such as American Express (AXP.US) and SAP Concur. According to Navan's official website, over the years, the company has expanded its business to include enterprise payments and expense management, serving global customers such as Zoom Communications (ZM.US) and Lyft (LYFT.US).