SAI.TECH Global (NASDAQ:SAI) stock is down on Monday despite a lack of news concerning the Bitcoin (BTC-USD) mining company.
Instead, today’s movement is likely tied to a recent rally the company’s shares went through on Friday. That resulted in SAI stock closing out normal trading hours on Friday up 222.4%. That came with heavy trading as some 44 million shares changed hands. For comparison, its daily average trading volume is closer to 754,000 shares.
Considering that massive rally, it makes sense that shares of SAI stock would give up some of those gains. This also comes with heavy trading as some 1.3 million shares of the stock have been traded in pre-market hours this morning.
What to Know About SAI Stock
SAI.TECH Global operates two businesses. The first focuses on the creation of mining infrastructure for BTC. Its second business is designed around helping businesses switch over to clean energy. This allows for crossover as it sets customers up with clean Bitcoin mining infrastructures.
SAI.TECH Global was founded in 2019 by Arthur Lee, who continues to lead the company as its CEO and holds a Board of Directors seat. Lee created the company after dropping out of Zhejiang University after seeing a market for helping BTC miners switch to green energy.
SAI stock is down 22% as of Monday’s pre-market trading.
Investors can find out more about the latest market news below!
We’ve got all of the hottest stock market news worth reading about on Monday! That includes why shares of Satsuma Pharmaceuticals (NASDAQ:STSA), Prometheus Biosciences (NASDAQ:RXDX), and Marpai (NASDAQ:MRAI) stock are moving today. You can read all of that at the links below!
More Monday Stock Market News
- Why Is Satsuma Pharmaceuticals (STSA) Stock Up 144% Today?
- Why Is Prometheus Biosciences (RXDX) Stock Up 70% Today?
- Why Is Marpai (MRAI) Stock Down 40% Today?
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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 InvestorPlace.com Publishing Guidelines.
