🔴 Hitek Global down 10.2% today following acquisition announcement

Hitek Global is trading at $2.72 (10.2% down) in pre-market. The decline follows the company's announcement today, August 3, 2026, that it has entered into a Share Purchase Agreement to acquire Ju Fu Limited, an advertising and digital marketing company, for $20 million.

• The acquisition involves a combination of cash consideration up to $14 million and 4 million Class A ordinary shares of Hitek.
• This news comes shortly after the company's shareholders approved a rebranding to Biddance AI Systems, Inc. on July 29, 2026.