Why WISeKey International's Shares Plunged 13.5% Today

Shares of WISeKey International (NASDAQ: WKEY) plunged as much as 13.5% in trading on Wednesday after a non-fungible token (NFT) auction got underwhelming results. Shares are down 12.3% at 3:20 p.m. EDT and show no signs of bouncing back. 

The auction of a digital twin of the Jean-Claude Biver Bang All Black Tourbillon Chronograph "special piece" began last week and didn't get a lot of bids. According to the auction site, only three bids have been placed for the NFT today, and the auction was extended until the end of April, far longer than the original April 5 end date.

Image source: WISeKey.

Continue reading

Source Fool.com