UTime (NASDAQ:UTME) stock dips 72%: Buy or sell call?

2 min read | June 18, 2021 07:45 PM AEST | By Raza Naqvi

UTime (NASDAQ:UTME) stock dips 72%: Buy or sell call? — Image source: Chompoo Suriyo, Shutterstock.com

Should you invest in UTime Limited (NASDAQ:UTME) Stock?

Following the public debut, UTME stock skyrocketed, buoyed by discussions by retail investors on platforms like Reddit and Discord. Due to the Reddit rally, which started towards the end of 2020, prices of many lesser-known stocks catapulted to epic highs.

Earlier this year, stocks for companies like GameStop (NYSE:GME) and AMC Entertainment (NYSE:AMC) witnessed a massive surge in their share prices after retail investors started discussing them on Reddit.

UTME stock seems to be highly volatile. It scored a high of US$ 107.32 apiece on April 7, a day after its public debut, and ever since it’s been on a downward trajectory. The stock declined by 66 per cent month-to-date (MTD) and 63 per cent in the past week.

The above constitutes a preliminary view and any interest in stocks should be evaluated further from investment point of view.

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