Shares of micro-cap SaaS company WeTrade Group Inc WETG are surging Wednesday after the company said it launched a large-scale language model generated by artificial intelligence.
What To Know: WeTrade Group said its language model is in trial stages, but the company ultimately aims to increase the application of large model technology and products for industry applications.
"Since 2023, in response to the changes in global business morphology, WeTrade has gradually shifted its business focus to overseas. In addition to the underlying product sectors such as AI intelligent products, the new energy business and cross-border financial business will become the focus of the group's business," said Hechun Wei, CEO of WeTrade Group.
WeTrade is a low-float stock with just over 500,000 shares outstanding and normally trades on very low volumes. Wednesday's trading volume of 5.2 million is well above the company's average volume of just over 100,000, per Benzinga Pro.
WETG Price Action: WeTrade shares were halted in early trading Wednesday.
The stock was up 141.6% at $20.39 at last check, according to Benzinga Pro.
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