J-Star Holding Co., Ltd. (NASDAQ:YMAT) plummeted by 64.63% on Tuesday to close at $2.03 per share due to unclear catalysts for the sell-off. The Taiwan-based company offers carbon fiber and composite solutions for various applications, including sports equipment, healthcare products, and automobile parts, and only recently debuted on the US stock market.

During its IPO, J-Star Holding raised $5.75 million by selling shares at $4 each, including an additional 187,500 shares. While the stock initially grew by 58%, it closed Tuesday at a 50.24% decline from its first day’s price of $4.08. Despite its potential, some believe other AI stocks offer greater returns with less risk.

If you are interested in an affordable AI stock with potential benefits from Trump tariffs and onshoring, consider reading our free report on the best short-term AI stock. J-Star Holding Co., Ltd. (NASDAQ:YMAT) faced a significant drop in stock price and performance, highlighting the volatility and potential risks associated with investing in emerging companies like this one.

Read more at Yahoo Finance: J-Star (YMAT) Lost 64.6%. Here’s Why