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Legend Biotech Corporation (LICN) stock has plummeted to a 52-week low, trading at $4.5. This significant downturn reflects a broader trend for the company, which has seen a staggering 1-year change with its stock value eroding by 97.82%. According to InvestingPro analysis, the stock’s RSI indicates oversold conditions, while maintaining impressive gross margins of ~61%. Investors are grappling with the implications of this sharp decline as the company navigates through a challenging period marked by this notable decrease in its market valuation. The current price level serves as a critical juncture for Legend Biotech, as market watchers and stakeholders closely monitor the company’s performance and strategic responses to regain its footing in the biotech industry. Despite the price decline, InvestingPro data reveals strong fundamentals with a "GREAT" financial health score and a robust current ratio of 17.55, suggesting significant undervaluation. Discover 13 additional exclusive insights with InvestingPro.
In other recent news, Lichen China Limited has announced a reverse stock split and a corporate name change to Lichen International Limited. The reverse split, at a ratio of one-for-two-hundred, is intended to increase the market price per share, potentially meeting Nasdaq’s minimum bid price requirement. Additionally, the company has finalized its acquisition of Bondly Enterprises Limited, making it a wholly-owned subsidiary, which aims to enhance Lichen China’s AI and technology capabilities. The acquisition, valued at $5.33 million, is expected to integrate Bondly’s advanced technologies into Lichen China’s operations.
Lichen China has also announced a registered direct offering of Class A ordinary shares and pre-funded warrants, aiming to raise approximately $3.4 million. Univest Securities, LLC is acting as the exclusive placement agent for this transaction. Furthermore, Lichen China plans to incorporate the DeepSeek optimization framework into its AI model, enhancing its capabilities in managing complex financial and taxation tasks. The integration is set to complete by the end of the second quarter of 2025.
In another financial move, Lichen China has entered into a definitive agreement for a registered direct offering expected to yield approximately $2.8 million. This offering involves the sale of 20 million Class A ordinary shares or pre-funded warrants. These developments reflect Lichen China’s strategic efforts to bolster its financial standing and technological capabilities.
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