TRIT Stock: The News That Has Fintech Play Triterras Soaring Today

Triterras (NASDAQ:TRIT) stock is on the move today as investors celebrate the results of an audit committee report.

A concept image of a hand reaching toward the word "Fintech," which is surrounded by icons representing TRIT Stock.

Source: Wright Studio /

A press release from Triterras reveals details from its Audit Committee of the Board of Directors’ investigation. According to the company, the report shows that claims made in a short report earlier this year are without basis.

Triterras says the following about the short report in its news release.

“After expending considerable resources, time and energy conducting its investigation and analyzing the work carried out by external advisers, the Audit Committee has concluded that the allegations contained in the short report lack either factual support or material basis. Accordingly, the Audit Committee has concluded that those allegations do not require additional action by the Company.”

The short report against Triterras came from Phase 2 Partners. In it, the firm brought up concerns about alleged transactions connected to company executives. It also claimed a long-term business relationship between the company’s founder and the CEO of Netfin Acquisition, the special purpose acquisition company (SPAC) that it merged with to go public.

Following today’s news, TRIT stock is seeing heavy trading. As a result, some 52 million shares of the stock have changed hands. That’s a massive increase over the company’s daily average trading volume of around 257,000 shares.

TRIT stock was up 32.8% as of Thursday afternoon.

There’s more stock market news to jump into below!

We’ve got all the latest stock coverage that traders need for Thursday. A few examples include a date Lucid Motors (NASDAQ:LCID) will want to keep an eye on, why some EV stocks are rising today, as well as what’s lifting Overstock (NASDAQ:OSTK) shares higher. You can get all of those details from the following links!

More Thursday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that’s writers disclose this fact and warn readers of the risks. 

Read More:Penny Stocks — How to Profit Without Getting Scammed

Article printed from InvestorPlace Media,

©2022 InvestorPlace Media, LLC