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Navan shares tanked by 20% after the corporate travel and expense management software startup went public on the nasdaq in a resurgent year for ipos. Navan, the corporate travel and expense platform, finished its first day of trading on the nasdaq on thursday down 20% from its $25 ipo price, resulting in a valuation of approximately $4.7.

Corporate travel and expense management firm navan inc Navan shares drop 17% after $923m ipo launched during us government shutdown Navan, a leading corporate travel and expense management platform, went public on october 31, 2025, raising $923 million with a $6.2 billion valuation