FatPipe offered 695,656 shares of its common stock in an underwritten initial public offering priced at $5.75 apiece last week.

Newly listed FatPipe, Inc. (FATN) stock has seen volatility since its public debut on April 8, understandably so as the broader market swings wildly to the tariff news flow.

Salt Lake City, Utah-based FatPipe develops software-defined wide area networks (SD-WAN), secure access service edge (SASE), and network monitoring services (NMS).

Its customers include enterprises, communication service providers, security service providers, government organizations, and middle-market companies.

FatPipe offered 695,656 shares of its common stock in an underwritten initial public offering (IPO) priced at $5.75 apiece last week. Following the closing of the offering, the company said it received gross proceeds of $4 million.

The stock opened for trading on April 8 at $6.50 and moved in a $6.50 to $23.27 range before settling at $13, up 200% from the IPO price. The stock hit a post-IPO low of $5.60 on Friday but ended higher for the day at $6.36.

The upward momentum carried over into Monday’s session as the stock jumped 27.52% before settling at $8.11.

FatPipe was among the top 15 trending tickers and the top 25 active tickers on Stocktwits early Tuesday.

The seven-day change in follower count is about 1,000%, highlighting the retail interest in FatPipe stock. It has already risen to 1,444 followers. 

Retail chatter has also perked up, with the 24-hour message volume up by 4,900%.

Retail sentiment toward FatPipe stock was ‘bullish’ (55/100), and the message volume stayed ‘high.’

FATN sentiment and message volume as of 3:21 a.m. ET, April 15 | source: Stocktwits

A bullish watcher said they were looking for a run in FatPipe stock to over $15 by this week following its recent consolidation around the $10 level.

Another user called it a clean “multi-day runner” without any pump or dump.

Still, FatPipe stock is down about 38% from its closing price in the debut session last week.

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