WEJO - Wejo shares slump 12% despite new Microsoft partnership

Wejo Group (NASDAQ:WEJO) shares fell as much as 12% Thursday as the cloud-based software and analytics compared came close to its 52-week-low on higher-than-usual trading volume. By early afternoon, 6.4 million shares of Wejo (WEJO) stock had been exchanged. The company averages almost 265,000 shares traded on a daily basis. Wejo (WEJO) shares fell to an intraday low of $1.95 a piece, and are just above their 52-week-low of $1.76 a share, which was touched on June 1. The company's shares have fallen by more than 71% since the start of the year. Investors appeared to be taking some profits after Wejo (WEJO) said earlier on Thursday that is has expanded its technological partnership with Microsoft (MSFT) Maps.

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Wejo shares slump 12% despite new Microsoft partnership