Smithfield Foods was valued at $7.7 billion after its shares fell 3.2% on Tuesday, in a muted debut that might prompt other IPO candidates to tread cautiously.

Smithfield Foods stock fell in its trading debut Tuesday after the pork giant priced shares below their marketed range.

Smithfield Foods ( SFD, Financials) launched its IPO on Tuesday, starting trading at $21.05 before falling to $20.18 by midday. On Wednesday, shares were priced at $19.29 as of 3:34:43 PM EST, reflecting a 3.5% drop from the previous close.

This story incorporates reporting from Virginia Business, Investopedia on MSN.com and MSN.Smithfield Foods successfully raised $522 million through its initial public offering listed on the Nasdaq Global Select Market.

Smithfield Foods, Inc., an American food company with a leading position in packaged meats and fresh pork products, debuted on the Nasdaq Global Select Market under the ticker symbol (NASDAQ:SFD). The initial public offering (IPO) opened at $21.