Why Is Remark (MARK) Stock Down 45% Today?


  • Remark (MARK) stock is down on Wednesday.
  • However, that’s simply the shares giving up gains from Tuesday.
  • The company’s stock rallied after announcing a deal with Microsoft (MSFT).
MARK Stock - Why Is Remark (MARK) Stock Down 45% Today?

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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!

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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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