Stock market anomaly | Data center operator Csquared (CSQR.US) enters the US stock market, with its stock price dropping over 1% after opening.

According to the CITIC Securities app, on Thursday, Csqaure (CSQR.US) made its debut on the US stock market. As of the time of writing, the stock has dropped more than 1%, trading at $20.77. The IPO price was $21. Csqaure is a carrier-neutral data center operator that provides space, power resources, and core connectivity infrastructure for enterprises, network service providers, and large cloud computing platforms to house and operate their high-performance IT equipment. As of March 31, 2026, the company operates 64 large-scale facilities in 21 major metropolitan markets in the United States, providing services including enterprise hosting, compute interconnection services, and other managed cloud infrastructure solutions. Its facilities are designed to support long-cycle, highly availability-sensitive workloads, with single rack power densities of up to 150 kilowatts. The company's revenue mainly comes from recurring contracts for hosting and compute interconnection services, with cloud computing/data center interconnection-related services accounting for about 10% to 13% of recurring revenue in recent years.