Elice's Record First-Day Plunge Hammers Korea's Retail Investors

South Korean AI company Elice Inc. suffered one of the country's worst IPO debuts on record, wiping out the expected first-day gains. Retail investors had poured tens of millions of dollars into the offering.

• Elice's IPO drew tens of millions of dollars from retail investors
• The debut was one of the worst on record in South Korea
• Investors betting on a first-day pop instead faced steep losses