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Why Is Sigma Additive Solutions (SASI) Stock Down 27% Today?

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  • Sigma Additive Solutions (SASI) stock is pulling back after a Friday rally.
  • That rally was the result of an acquisition announcement.
  • The company is acquiring NextTrip Holdings in a deal closing later this year.
SASI Stock - Why Is Sigma Additive Solutions (SASI) Stock Down 27% Today?

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Sigma Additive Solutions (NASDAQ:SASI) stock is falling on Friday as the software company’s shares gave up some gains it received on Friday!

Sigma Additive Solutions stock underwent a massive 139.5% rally during normal trading hours on Friday. That came alongside more than 45 million shares of the company’s stock changing hands. For the record, its daily average trading volume is about 803,000 shares.

That rally was kicked off by the company after its leadership announced plans to acquire NextTrip Holdings. That will see it acquire 100% of the capital stock of NextTrip. This has the software company beefing up its offerings with NextTrip’s expertise in the business and leisure travel business.

How This Affects SASI Stock

Once this deal is complete, Sigma Additive Solutions will change its name to NextTrip. That will also result in the company adopting a new stock ticker to match the new name. Investors can expect this change in the fourth quarter of 2023, which is when the deal is set to close.

Only about 121,000 shares of SASI stock have been traded as of this writing. That’s well below its daily average and is a significant drop in interest compared to Friday’s trading volume. This also has SASI stock down 27.4% as of Monday morning as the hype around the acquisition dwindles.

Investors seeking out even more of the most recent stock market stories will want to stick around!

We’re offering up all of the hottest stock market news that traders need to know about on Monday! A few examples include why shares of ContraFect (NASDAQ:CFRX) and MingZhu Logistics (NASDAQ:YGMZ) stock are up today, as well as the biggest pre-market stock movers this morning. All of that news is ready to go at the links below!

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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.


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