Why Blackboxstocks (BLBX) Shares Are Getting Hammered
Portfolio Pulse from Henry Khederian
Blackboxstocks Inc (NASDAQ:BLBX) shares dropped 39% to $2.35 after announcing the acquisition of Evtec Aluminium Limited, a supplier to the EV and luxury automotive markets. Despite Evtec's strong projected revenue for 2024 and expansion plans, the market reacted negatively to the news. David Roberts will lead the combined entity, with a focus on manufacturing excellence in the EV sector and growth through acquisitions and U.S. market expansion.
December 13, 2023 | 2:39 pm
News sentiment analysis
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NEGATIVE IMPACT
Blackboxstocks Inc's stock price fell sharply by 39% after the acquisition of Evtec Aluminium Limited, signaling investor concern or dissatisfaction with the deal.
The significant drop in Blackboxstocks' share price following the acquisition announcement suggests that investors may be concerned about the cost, integration challenges, or strategic fit of the acquisition. Despite positive future revenue projections and expansion plans, the immediate market reaction has been negative, which could indicate skepticism about the company's short-term prospects.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100