UTime Limited (NASDAQ:FXHO) shares surged 77.78% to $12.80 in after-hours trading on Thursday.
The late-session rally followed a 17.05% intraday decline that left shares of the China-based technology and consumer electronics company closing at $7.20, according to Benzinga Pro data.
Ticker Change
The stock move came after UTime’s Nasdaq Capital Market ticker changed from “WTO” to “FXHO” on Thursday. The company announced the change on Wednesday.
UTime said the rebrand comes as it prepares for a planned acquisition of Feixiaohao Technology Inc., a Web3 data platform serving millions of cryptocurrency and blockchain users worldwide.
Acquisition Still Awaits Final Agreement
UTime and Feixiaohao remain under a non-binding letter of intent, with both sides evaluating business integration and market expansion strategies. Management said the acquisition could strengthen UTime’s strategic push into the Web3 and digital-infrastructure space.
The company said no definitive agreement has been signed, and the transaction remains subject to due diligence, negotiations and regulatory approvals.
Trading Metrics, Technical Analysis
UTime has a market capitalization of $50.30 million. The stock has traded between a 52-week high of $7,700 and a 52-week low of $5.02.
Over the past 12 months, FXHO has dropped 99.85%.
The small-cap stock is currently trading near its annual low.
FXHO’s sharp decline and weak positioning suggest continued pressure, highlighting elevated risk and the need for clearer signs of recovery before investor confidence can return.
Benzinga’s Edge Stock Rankings indicate that UTime stock has a negative price trend across all time frames.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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