Why Triterras Stock Soared Today
Shares of Triterras (NASDAQ: TRIT) have jumped today, up by 11% as of 2:50 p.m. EST, after the company said it was opening an investigation into recent allegations made by short-sellers. The stock has been extremely volatile in recent weeks after Phase 2 Partners released a bearish report.
Triterras, a fintech company that operates a blockchain-based trading platform called Kratos, said that the Audit Committee of the board of directors has initiated an independent investigation into the allegations. The committee is currently finding an independent third-party legal counsel to conduct the inquiry, and Triterras management is fully supportive of the investigation since it is confident that the review will "set the record straight regarding the false and/or incomplete information included in the recent short report."
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Source Fool.com
