By Dean Seal
Shares of blank-check company Chardan NexTech Acquisition 2 Corp. fell by nearly a third to a low of $14.62 in early trading Thursday after more than doubling during Wednesday's regular trading session.
The shares climbed to $21.54 Wednesday following news that Chief Executive Officer Jonas Grossman had purchased 485,000 shares at $10.36 each.
After the bell, the company reported that stockholders had elected to redeem almost 2.1 million common shares, leaving about 1.02 million shares issued and outstanding. The stock started to fall in after-market trading, and opened at $19.74 Thursday and tumbled from there.
The shares were changing hands at $15.52 after the first hour of trading.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
October 06, 2022 10:35 ET (14:35 GMT)
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