UTime Ltd (WTO) stock took a significant dive on Monday, dropping 26.1% to $0.04 following the company’s announcement of a 1-for-25 reverse share split. This move aims to meet Nasdaq’s minimum $1.00 bid price requirement for continued listing and will reduce the total number of outstanding shares to approximately 18 million. The reverse split is effective on or around September 11th.
UTime Ltd’s stock (WTO) experienced wild swings this week, plummeting 93% on Wednesday after announcing a lab acquisition related to a monkeypox vaccine. The company then rebounded 48% on Thursday, assuring investors its operations remain unchanged. While UTime’s stock remains volatile, the potential for its monkeypox vaccine could drive future growth.
UTime Ltd (WTO) shares plummeted 93% on Wednesday following the announcement of a non-disclosure agreement with Bowen Therapeutics Inc. for the acquisition of Bowen’s laboratory at UMASS Medical School. The acquisition is part of UTime’s strategy to expand into the global vaccine market, with a focus on developing an mpox vaccine. Despite the significant drop, the potential for mpox vaccine development and the FDA approval process could influence future stock performance.
