Shares of Fiverr International Ltd. FVRR,
Midday trading fell 4.4% on Thursday, reversing an earlier intraday gain of as much as 4.2%, even as a platform provider for those seeking freelance work pulled the public stock offer they intended to return. Fiverr said the reason for the change of mind was that it decided “with the current market conditions on Wednesday it is not in the best interests of the company and its shareholders to build equity capital.” Fiverr fell 13.0% to $ 242.99 on Wednesday, after the company said late Tuesday that it has launched a public offering of $ 700 million worth of shares. That sale had moved the stock to a bear market, as it closed 24.8% below its record at Feb. 12 near $ 323.10. The stock is still up more than sevenfold (up 605.6%) over the last 12 months, and the S&P 500 SPX,
has gained 22.2%.