Remark (NASDAQ:MARK) stock is falling on Wednesday as the company’s shares are coming off yesterday’s rally following a deal with Microsoft (NASDAQ:MSFT).
Remark revealed a five-year partnership with Microsoft yesterday that covers cloud services and marketing. That will see the Remark AI business unit consume $80 million of Microsoft Azure cloud services.
To go along with that deal, Microsoft will help with driving new customers to Remark AI through its cloud services. That will have it co-market the unit’s services on the Microsoft Azure Marketplace. It will also give it $2 million in Azure cloud services credits and $700,000 in consulting and migration credits.
At this same time, Remark also amended the company’s bylaws. It changed the required support for shareholder meeting votes from a majority to one-third of the shares eligible to vote.
Recent MARK Stock Movement
News of the deal with Microsoft saw Remark’s shares rally 264.4% during normal trading hours on Tuesday. That also came with heavy trading as some 214 million units changed hands.
MARK stock is giving up some of those gains on Wednesday, with the stock down 45.2% this morning. That comes with roughly 6.5 million shares having been traded. For the record, the company’s daily average trading volume is about 5.3 million shares.
Investors who are searching for more of the most recent stock market stories will want to stick around!
We have all of the hottest stock market news that traders need to know about on Wednesday! A few examples include what’s sending Lytus Technologies (NASDAQ:LYT) and SINTX Technologies (NASDAQ:SINT) stock higher as well as the biggest pre-market stock movers today. You can read up on all of these matters at the following links!
More Wednesday Stock Market News
- Why Is Lytus Technologies (LYT) Stock Up 26% Today?
- Why Is SINTX Technologies (SINT) Stock Up 52% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday
On Penny Stocks and Low-Volume Stocks: 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 InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed
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.
