RTTNews | Jan 28, 2022 12:51PM EST

12:50 Friday, January 28, 2022 (RTTNews.com) - Utah-based tech company, Weave Communications, Inc. (WEAV), is trading 7% lower in the Friday market despite the company not reporting any stock-specific news to affect the stock.

Earlier today, the company announced that it has reached the milestone of $1 billion through its Weave Payment app. The stock of the company has continuously dropped since its debut on the market in November. Since then, it has lost about 54% of its value.

Currently, the stock is trading hands at $8.44, down $0.64 or 7.05% since the previous close at $9.08. The stock opened at $9.01. In the last 52-weeks, the shares have ranged between $7.91 and $22.40 per share.

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