Robinhood shares gain on Q2 beat, as user and crypto growth accelerate
Alset Capital Acquisition Corp. (HWH) stock has tumbled to a 52-week low, touching a price level of just $0.25. With a market capitalization of approximately $10 million and an InvestingPro Financial Health Score rated as ’WEAK’, the company’s current challenges are reflected in its fundamentals. This latest dip underscores a significant downturn for the company, which has seen its stock value plummet by 76.5% over the past year, with a concerning YTD decline of 51.9%. Investors have been wary as the company grapples with market challenges, including negative EBITDA of -$1.59 million and high price volatility. The 52-week low serves as a critical indicator of the current investor sentiment and the struggles that Alset Capital has faced in the market over the past year. InvestingPro subscribers have access to 11 additional key insights about HWH’s performance and outlook.
In other recent news, HWH International Inc. has announced the completion of its public offering, raising approximately $1.76 million in gross proceeds. This involved the sale of 3,162,500 shares of common stock and 1,250,000 pre-funded warrants, with D. Boral (OTC:BOALY) Capital LLC serving as the exclusive placement agent. Additionally, HWH International has regained compliance with Nasdaq’s listing requirements, following a notice from the Nasdaq Stock Market. The company had been under scrutiny after a Nasdaq Hearing Panel decision, but it has now satisfied the minimum equity requirement under Nasdaq’s Listing Rule 5550(b)(1).
Furthermore, HWH International declared a 1-for-5 reverse stock split of its common stock to comply with Nasdaq’s minimum bid price requirement, ensuring its continued listing on the Nasdaq Capital Market. This corporate action was approved by the company’s board of directors and a majority of its stockholders. In another significant development, HWH International disclosed transactions believed to have increased its stockholders’ equity to over $2.5 million, potentially satisfying Nasdaq’s Capital Market requirements. These recent developments highlight HWH International’s ongoing efforts to maintain its market position and regulatory compliance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.