Organic baby food company Once Upon a Farm (Nasdaq: OFRM) suffers a stock price plunge after releasing its latest quarterly financial report.

During Thursday's trading session, the company's stock price fell below the $18 initial public offering price line for the first time in its history, ultimately closing down 15.2% at $17.16. This decline marks a vote of no confidence in the company's short-term performance and growth prospects. Intraday trading data showed the stock price once dropped to a low of $16.95, more than 5% below the offering price. Trading volume was three times the monthly average, reflecting a concentrated sell-off by investors. Analysts pointed out that the slowdown in quarterly revenue growth and narrowing gross margin were the main triggers for the sell-off. Although the company emphasized strong growth in its e-commerce channel, it failed to offset the negative impact of weakness in offline retail channels.