HK-listed gold stocks jump as US economic fears boost bullion prices
In a challenging year for Deep Medicine Acquisition Corp. (TRUG), the company's stock has plummeted to a 52-week low, trading at $0.26. With a market capitalization of just $5.62 million and revenue of $21.92 million, this significant downturn reflects a staggering 1-year decline of -85.41%. According to InvestingPro data, TRUG's RSI indicates oversold territory, while its current ratio of 0.89 signals potential liquidity concerns. Investors have watched with concern as TRUG's market position weakened, leading to this new low point. The drop to a quarter of a dollar per share marks a critical juncture for the company, which now faces the arduous task of regaining investor confidence and reversing the downward trend that has dominated its performance over the past year. [Discover 12 more exclusive InvestingPro Tips for TRUG's outlook.]
In other recent news, TruGolf Holdings, Inc. is facing the challenge of potential delisting from the Nasdaq Stock Market due to a failure to meet the minimum stockholders' equity requirement of $10 million. Despite receiving a formal notice from Nasdaq on April 2, 2025, the company plans to appeal the decision, which will temporarily delay the delisting process. In a separate development, TruGolf Holdings has negotiated an extension with note holders, allowing the company more time to comply with Nasdaq's listing requirements, including a potential reverse stock split to address the bid price shortfall. This extension provides a window until February 28, 2025, with an additional extension to April 30, 2025, for specific conditions.
Meanwhile, TruGolf Holdings is expanding its footprint in Tennessee through its subsidiary, TruGolf Links Franchising, LLC. The company has partnered with Knoxville entrepreneur John Young to open 40 new indoor golf centers across the state, starting with a flagship center in Knoxville. This expansion strategy aims to enhance the golf experience with advanced simulators and upscale amenities. TruGolf Holdings continues to focus on maintaining its Nasdaq listing while pursuing growth opportunities in the franchising sector. The company's efforts to align with regulatory requirements and its strategic expansion plans are closely watched by investors.
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