Why Blackboxstocks (BLBX) Shares Are Getting Hammered

Zinger Key Points
  • Blackboxstocks shares are trading lower by 39% Wednesday morning.
  • The company acquired Evtec Aluminium Limited, a supplier to the EV and luxury automotive markets.

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.

See Also: Fed's 2023 Policy Twists: The Turning Points And Markets Reactions

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

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsPenny Stockswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!