BT Brands Stock Slides 35% After Hours: Why Is It Moving?
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BT Brands Inc (BTBD) saw its stock plummet over 34% to around $1.15 in after-hours trading following the termination of its merger agreement with Aero Velocity Inc. The merger was called off due to the failure to meet the SEC's registration deadline. BT Brands asserts it does not owe any termination fees, while Aero Velocity disputes the validity of the termination. Currently, BT Brands has a market cap of approximately $10.8 million, with shares previously closing at $1.76 before the drop.
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