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Starbox Holdings (STBX) stock has hit a new 52-week low, trading at just $0.15, with a market capitalization shrinking to $1.44 million, as the company faces a tumultuous period marked by a staggering 99.57% decline over the past year. According to InvestingPro analysis, the stock's RSI indicates oversold territory, while trading at a notably low Price/Book multiple of 0.02. This latest price level reflects the immense challenges that have beset the firm, eroding investor confidence and market valuation. The precipitous drop in stock value over the year has alarmed shareholders and analysts alike, as the company grapples with revenue decline of 47.41% and negative EBITDA of $86.41 million. InvestingPro subscribers can access 14 additional key insights about STBX's financial health and market position.
In other recent news, Starbox Group Holdings Ltd. has announced an upcoming extraordinary general meeting of shareholders, as detailed in a recent filing with the U.S. Securities and Exchange Commission. The meeting is scheduled for February 2025, with the notice and proxy statement included in the filing. Although the specific agenda items for the meeting have not been disclosed, the presence of a proxy statement indicates significant matters requiring shareholder approval. Additionally, Starbox Group Holdings has launched an artificial intelligence system named StarboxAI-IntelliCampaignOptimize. Developed by its subsidiary Starbox Technologies Sdn. Bhd., this tool is designed to enhance marketing campaign performance by automatically adjusting campaigns in real-time and providing strategic insights. CEO Lee Choon Wooi highlighted the system's role in aligning with the company's commitment to leveraging AI for smarter merchant tools. This development is part of Starbox's broader mission to become a comprehensive technology solutions provider in Southeast Asia. These recent developments reflect the company's ongoing efforts to empower businesses with innovative solutions.
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