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In a stark reflection of investor sentiment, Alset Capital Acquisition Corp. (HWH) stock has tumbled to a 52-week low, touching a price level of just $1.18. According to InvestingPro data, the company’s financial health score stands at a concerning 1.02, labeled as ’WEAK’, with a negative EBITDA of $1.59M in the last twelve months. This latest price point underscores a precipitous decline for the company, which has seen its stock value erode by an alarming 84.42% over the past year. The significant drop has raised concerns among shareholders and market analysts alike, as they grapple with the underlying factors contributing to the company’s performance and its future outlook in an increasingly volatile market environment. With a beta of -1.02, the stock typically moves counter to market trends, while current valuation metrics suggest the stock is trading near its Fair Value. InvestingPro subscribers can access 11 additional investment tips for HWH, providing deeper insights into the company’s prospects.
In other recent news, HWH International Inc. has announced the completion of its public offering, successfully raising approximately $1.76 million in gross proceeds. This offering included the sale of 3,162,500 shares of common stock and 1,250,000 pre-funded warrants, with shares priced at $0.40 each. The capital raised marks a significant financial development for the company, which operates in the wholesale drug and sundries sector. Additionally, HWH International has declared a 1-for-5 reverse stock split of its common stock, effective from February 24, 2025, as a strategy to comply with Nasdaq’s minimum bid price requirement. This move was approved by the company’s board of directors and a majority of its stockholders. In another development, HWH International has regained compliance with Nasdaq’s listing requirements, confirmed by a notice from the Nasdaq Stock Market. This compliance follows a period of non-compliance with Nasdaq Listing Rule 5550(a)(2), ensuring the company’s continued listing on the Nasdaq Capital Market. The company’s Chief Financial Officer, Rongguo Wei, has affirmed the company’s commitment to regulatory adherence, providing a foundation for future investor confidence.
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