Why Triterras Stock Soared Today

Shares of Triterras (NASDAQ: TRIT) have soared today, up by 14% as of 12:20 p.m. EST, after the company announced that CEO Srinivas Koneru is planning to purchase more shares in the open market. Triterras also moved a previously announced conference call to tomorrow.

Triterras shares tanked last week after it disclosed that a creditor was pushing an important Triterras customer, Rhodium Resources, to restructure. Both Triterras and Rhodium were founded by Koneru, and Rhodium has been "instrumental" in launching Triterras' Kratos service, a blockchain-based digital platform for trading commodities and securing financing. Triterras went public in November after merging with special-purpose acquisition company (SPAC) Netfin.

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Source Fool.com