Blackboxstocks: Latest Merger Deal with Evtec Aluminium Causes Share Drop

Shares of Blackboxstocks plummeted by 30% following the company's decision to acquire Evtec Aluminium, a move that follows its previous announcement to merge with automotive parts supplier Evtec Group.

Currently trading at $2.68, Blackboxstocks shares have witnessed an impressive increase of over 100% this year.

Upon completion of the merger, Blackboxstocks shareholders will maintain a 26.7% ownership in the combined company and will also receive a contingent value right for the existing fintech operations.

Known for its advanced trading platform incorporating predictive technology to identify market volatility and unusual activity, Blackboxstocks additionally offers social media features. The company has articulated its intention to pursue a dual strategy encompassing both fintech and auto parts. In April, they emphasized the unique opportunities presented by changes in the supply chain resulting from the pandemic and growing geopolitical tensions, stating that companies like Evtec are poised to capitalize on these dynamics.

Furthermore, it is worth noting that Blackboxstocks already possesses a 13% stake in Evtec Automotive and plans to acquire the remaining shares within the first quarter.