Eqonex shares fell 17% to $4.48, a day after the company said it expanded its international sales team to meet growth in institutional demand for digital assets.
Volume for the stock was 1.3 million shares at 10:40 a.m. ET, compared to its 65-day average volume of 1.1 million shares. The stock, which closed Tuesday up 24%, hit its 52-week of $3.09 on Oct. 5.
The company said it named Alex Phillips as group head of sales. Mr. Phillips joins Eqonex from Dymon Asia Capital.
Eqonex said it also appointed Malcolm Baker as head of group sales for the European region, and Matthew Allott as asset management head of sales, overseeing asset management sales. Bjorn Rosendahl has joined Eqonex as the head of sales for custody.
Eqonex shares ended Monday’s session up 21% after the company said its Eqonex crypto exchange has listed the Polkadot token on its platform.