Wetouch signs supply agreements with Siemens
WeTouch Technology's Achievements: WeTouch Technology (WETH) has secured two significant projects with Siemens (SIEGY).
Long-term Supply Agreement: The agreement includes long-term supply qualification for Siemens' industrial Human-Machine Interface and core Programmable Logic Controller products.
Contract Duration and Revenue: The contract is set for the next five years and is expected to generate approximately $10 million in additional annual revenue.
Impact on WeTouch's Growth: These projects are anticipated to enhance WeTouch's market position and financial performance during the contract period.
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Ethereum Price Surge: Ethereum and its related cryptocurrencies experienced significant gains, with Ether rising 13.4% due to a general market optimism and the recent Pectra upgrade that enhanced the blockchain's security and functionality.
Future Outlook: The introduction of 24/7 trading for Bitcoin and Ethereum futures on Coinbase may stabilize the markets, while ongoing upgrades could improve Ethereum's competitiveness against other smart contract platforms, despite its past underperformance compared to Bitcoin.
- U.S. Stock Market: Nasdaq Composite moved higher, Dow down 0.12%, NASDAQ up 0.27%, S&P 500 gained 0.09%.
- Top Headline: Eli Lilly to acquire Morphic Holding Inc for $3.2 billion.
- Equities Trading UP: Shares of Morphic Holding, Myomo, and SRIVARU Holding increased significantly.
- Equities Trading DOWN: HilleVax, Wetouch Technology, and Inventiva S.A. saw declines in their stock prices.
- Commodities and Global Markets: Oil and gold prices fell, European shares closed lower, Asian markets also declined.

- Arhaus, Inc. Stock Movement: Arhaus, Inc. (ARHS) shares fell 7.9% to $14.55 after being downgraded by Jefferies analyst Jonathan Matuszewski.
- Top Gainers: Several stocks saw significant gains, including Morphic Holding, Inc. (MORF), Zapp Electric Vehicles Group Limited (ZAPP), and SRIVARU Holding Limited (SVMH).
- Inspire Veterinary Partners: Inspire Veterinary Partners, Inc. (IVP) shares climbed 47% to $2.1928.
- Top Losers: HilleVax, Inc. (HLVX) shares dipped 86.7%, followed by Adamas One Corp (JEWL) and China Liberal Education Holdings Limited (CLEU).
- Other Market Movements: Various companies like SolarEdge Technologies, Inc. (SEDG), Corning Incorporated (GLW), and Paramount Global (PARAA) experienced notable stock price changes.
- U.S. Stock Market: Dow Jones traded down 0.19%, NASDAQ rose 0.21%, and S&P 500 fell 0.02%.
- Top Headline: Eli Lilly to acquire Morphic Holding Inc for $3.2 billion.
- Equities Trading UP: MORF shares surged by 75%, MYO shares boosted by 27%, SVMH shares gained 39%.
- Equities Trading DOWN: HLVX shares dropped 87%, WETH shares down 20%, IVA shares fell 10%.
- Commodities: Oil and gold prices down, silver and copper also saw declines.
- Wetouch Technologies Stock Buyback: Wetouch Technologies Inc (WETH) shares are down by 21.7% to $2.47 after announcing a $15 million stock buyback program.
- Buyback Details: The company plans to repurchase shares through open market or private transactions, with the program subject to suspension or discontinuation at any time.
- CEO's Statement: CEO Zongyi Lian expressed confidence in Wetouch's business, citing strong cash position and undervalued stock as reasons for the buyback to return value to shareholders.
- How to Participate: Interested individuals can buy Wetouch Technology shares through brokerage accounts, including fractional shares for expensive stocks like Berkshire Hathaway or Amazon.com.
- Betting Against the Company: Shorting a company like Wetouch Technology requires access to options trading platforms or brokers allowing 'going short' by lending shares to sell, enabling profit from share price decline.
- Wetouch Technologies Stock Buyback Program: The company announced a stock buyback program to repurchase up to $15 million of its common stock.
- Reason for Buyback: Wetouch Technologies stated that the buyback program reflects confidence in the strong and growing business of the company.
- CEO's Statement: Zongyi Lian, CEO of Wetouch Technologies, mentioned that despite having over $90 million in cash and nearly $8 per share in cash, the market capitalization is less than $30 million, indicating the stock is undervalued.
- Purpose of Buyback: The CEO highlighted that the buyback program is seen as an opportunity to return value to shareholders due to the perceived undervaluation of the company's stock.










