BUZZ-Smartkem retreats sharply day after record surge
Reuters
Sep 03
BUZZ-Smartkem retreats sharply day after record surge
** Shares of electronics firm Smartkem SMTK.O fall 22% to $1.13 premarket, just a day after notching 72% in their biggest single-day gain ever
** On Tuesday, co said it had engaged an advisory firm to explore strategic alternatives, triggering a buying frenzy and fueling retail investor optimism
** SMTK's price rose above $1 for the first time since July
** Small-cap stocks often surrender some of their gains following a sharp, retail-driven rally as momentum subsides
** Stock has lost half of its value so far this year
(Reporting by Niket Nishant in Bengaluru)
((Niket.Nishant@thomsonreuters.com))
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