TECH - Remark Holdings Stock Is Tumbling Following Microsoft Deal: What's Going On? | Benzinga
Remark Holdings Inc (NASDAQ:MARK) shares are trading lower Wednesday after rallying more than 260% on Tuesday. Here’s a look at what’s going on.
What Happened: Shares of AI solutions company Remark Holdings surged Tuesday as traders circulated a social media post from the company about a partnership with Microsoft Corp (NASDAQ:MSFT). After the market close on Tuesday, the company provided more details on the partnership, which resulted in a steep selloff.
Initially, Remark said it entered into an "$80 million dollar initial partnership" with Microsoft. In a regulatory filing after the close, Remark said it entered into a five-year cloud services and marketing agreement with Microsoft in ...