UTime (WTO) Stock Is Down 93% Today: What's Going On?

UTime Ltd WTO shares are trading lower by 93% to $0.15 Wednesday afternoon after the company announced the signing of a non-disclosure agreement with Bowen Therapeutics Inc. for the acquisition of Bowen’s laboratory at UMASS Medical School.

The company says this acquisition is part of UTime’s strategy to expand into the global vaccine market, particularly focusing on developing an mpox vaccine.

UTime says Bowen Therapeutics has been involved in research on the mpox virus and developed a promising hexavalent recombinant protein vaccine. UTime also says the company will oversee ongoing clinical trials and future vaccine development, aiming to expedite FDA approval.

The transaction is still subject to negotiations and regulatory approvals. UTime’s CEO highlighted this acquisition as a step in their vaccine business expansion and a response to public health challenges.

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Should I Sell My WTO Stock?

Whether to sell or hold a stock largely depends on an investor's strategy and risk tolerance. Swing traders may sell an outperforming stock to lock in a capital gain, while long-term investors might ride out the turbulence in anticipation of further share price growth.

Similarly, traders willing to minimize losses may sell a stock that falls a certain percentage, while long-term investors may see this as an opportunity to buy more shares at a discounted price.

Shares of UTime WTO have lost 67.92% year to date. This compares to the average annual return of -29.34%, meaning the stock has underperformed its historical averages. Investors can compare a stock's movement to its historical performance to gauge whether this is a normal movement or a potential trading opportunity.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. UTime stock currently has an RSI of 75.86, indicating overbought conditions.

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WTO has a 52-week high of $2.49 and a 52-week low of $0.13.