Why Is Earlyworks (ELWS) Stock Up 340% Today?


  • Earlyworks (ELWS) stock is rising higher on Wednesday on shareholder updates.
  • That includes large stakes in the company taken by two people.
  • This has ELWS stock seeing heavy trading this morning.
ELWS Stock - Why Is Earlyworks (ELWS) Stock Up 340% Today?

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Earlyworks (NASDAQ:ELWS) stock is taking off on Wednesday after the blockchain-based technology company provided an update on stakeholders.

The Japanese-based company revealed investments from two individuals that traders need to know about.

The first is Hiroki Yamamoto, who has a 6.2% stake in the company. This comes from stock options held by the individual that represent 1 million shares of ELWS stock. This percentage is based on 15,039,400 ordinary shares outstanding and the 1 million available via exercise.

Satoshi Kobayashi is next on our list, with a 62.9% stake in Earlyworks. This comes from 5,462,265 ordinary shares held by the individual and 4 million held by Themis Capital GK. Satoshi Kobayashi is the 100% owner of Themis Capital GK.

How This Affects ELWS Stock Today

News of these stakes in the company has ELWS stock seeing heavy trading on Wednesday. As of this writing, more than 26 million shares of the company’s stock have changed hands. That’s an incredible surge in trading volume compared to its daily average of around 330,000 shares.

ELWS stock is up 339.6% as of Wednesday morning. The stock was down 36.8% year-to-date when markets closed on Tuesday.

Investors who are seeking out even more of the most recent stock market stories are going to want to keep reading!

We are offering all of the hottest stock market news that traders need to know about on Wednesday! Among that is why shares of Brera (NASDAQ:BREA) stock are up, the biggest pre-market movers this morning and an earnings update from Lyft (NASDAQ:LYFT). You can read up on all of these matters at the following links!

More Stock Market News for Wednesday

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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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