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Why Is WeTrade (WETG) Stock Down Today?

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  • WeTrade (WETG) stock is slipping after announcing a name change.
  • The company will adopt Next Technology as its new name.
  • That will also see it change its stock ticker.
WETG Stock - Why Is WeTrade (WETG) Stock Down Today?

Source: ArtemisDiana/Shutterstock

WeTrade (NASDAQ:WETG) stock is falling on Monday after the technical services and solutions company announced plans to change its name and the ticker for its shares.

WeTrade reveals in a filing with the Securities and Exchange Commission (SEC) that it has secured approval from a majority of shareholders for this change. The company notes that this will see it change its name from WeTrade to Next Technology.

To go along with this name change is a ticker change for shares of WETG stock. The company says that it will switch its shares from that ticker to its new NXTT stock ticker. It doesn’t say when this change will go into effect.

WeTrade notes that it got written approval from shareholders owning 50.5% of WETG stock to enact these changes. As such, the company doesn’t intend to hold a shareholder meeting to vote on the matter.

How This Affects WETG Stock Today

News of the name and stock ticker change initially saw shares of WETG fall in pre-market trading today. The stock was sliding as much as 20% lower at that time.

Now the shares have mostly recovered from that dip with the stock only being don 2.4% as of Monday morning. That still builds on an 8.7% fall for the shares during normal trading hours on Friday.

Investors looking 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 Monday! That includes everything happening with shares of Intelligent Bio Solutions (NASDAQ:INBS) stock, Millennium Group (NASDAQ:MGIH) stock and DIH Holding US (NASDAQ:DHAI) stock today. You can find out more on 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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