NEW YORK (TheStreet) -- Liquid Holdings (LIQD) fell Wednesday after the hedge fund technology company announced it had signed a joint marketing agreement with ConvergEx Prime Services, the prime services division of ConvergEx Group.
ConvergEx Prime Services will offer Liquid's platform as an option to its prime brokerage clients and Liquid will refer its clients to ConvergEx for prime brokerage services under the terms of the deal. ConvergEx's clients include hedge funds, family offices, mutual funds and registered advisors.
JMP Securities also initiated coverage on the stock with an "outperform" rating at set a $2.25 price target.
Must Read: Warren Buffett's 25 Favorite StocksSTOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. The stock was down 4.65% to $1.64 at 10:41 a.m. STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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