What In The World Is Going On With UTime (WTO) Stock Today?

UTime Ltd WTO shares have experienced extreme volatility this week, with a dramatic 93% drop on Wednesday following the announcement of a non-disclosure agreement with Bowen Therapeutics Inc. for the acquisition of a laboratory at UMASS Medical School.

The company says this acquisition is part of UTime’s strategy to expand into the global vaccine market, focusing specifically on developing a vaccine for mpox (monkeypox).

Bowen Therapeutics has been conducting research on the mpox virus and has developed what UTime says is a promising hexavalent recombinant protein vaccine. UTime plans to oversee ongoing clinical trials and future vaccine development with an aim to expedite FDA approval.

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On Thursday, UTime’s stock price rebounded by 48% to 13 cents after the company issued a press release addressing the recent share price volatility. The company assured investors that its operations remain normal, and there has been no fundamental change to its business.

In the press release, UTime emphasized its commitment to transparency and regulatory compliance, noting that it is conducting an internal investigation to determine if any undisclosed information may have contributed to the stock’s volatility.

The company meanwhile urged investors to remain cautious and rely only on official communications for accurate information.

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Should I Sell My WTO Stock?

When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.

Shares of UTime have decreased by 74.64% in the past year. An investor who bought shares of UTime at the beginning of the year would take a loss of $0.14 per share if they sold it today. The stock has fallen 90.16% over the past month, meaning an investor who bought shares on Jul. 1 would see a capital loss of $0.61.

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 19.17, indicating oversold conditions.

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