Why Blackboxstocks (BLBX) Shares Are Getting Hammered

Blackboxstocks Inc BLBX shares are trading lower by 39% to $2.35 Wednesday morning after the company acquired Evtec Aluminium Limited, a supplier to the EV and luxury automotive markets.

What Else?

Blackboxstocks says Evtec's projected revenue for 2024 is strong, with a growing order book and plans for expansion through acquisitions. The merger details outline the ownership split and a contingent value right for Blackbox shareholders.

Blackboxstocks says David Roberts will lead the combined entity, focusing on enhancing manufacturing excellence, especially in the EV space.

Evtec aims to grow organically, acquire companies with strong order books, and expand into the U.S. market through partnerships.

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According to data from Benzinga Pro, BLBX has a 52-week high of $9.50 and a 52-week low of $1.04.