Figma Shares Indicated To Open $105/$110
In a challenging market environment, TRUG stock has hit a 52-week low, with shares plummeting to $0.35. This significant downturn reflects a broader trend for Deep Medicine Acquisition, which has seen its value decrease by a staggering 69.92% over the past year. With a market capitalization of $8.18 million and revenue of $21.92 million in the last twelve months, the company faces significant headwinds. According to InvestingPro analysis, the stock appears undervalued at current levels. Investors are closely monitoring the company’s performance, as it navigates through the headwinds that have led to this low point. The 52-week low serves as a critical marker for the company, indicating a period of intense pressure and potential reassessment of strategies moving forward. With a negative EBITDA of $2.35 million and current ratio of 0.89, the company faces immediate financial challenges. InvestingPro subscribers have access to 12 additional key insights about TRUG’s financial health and market position.
In other recent news, TruGolf Holdings, Inc. has secured an extension to meet Nasdaq’s continued listing requirements. The company, which was previously known as Deep Medicine Acquisition Corp., has negotiated with note holders to extend the compliance deadline to February 28, 2025, with an additional extension to April 30, 2025, for the minimum bid price requirement. This extension is conditional, and the company may consider a reverse stock split to address the bid price shortfall. In November 2024, TruGolf reached an agreement with its convertible note holders to waive specific demands related to Nasdaq listing standards, initially setting a compliance deadline of January 15, 2025. The recent amendment, known as the January Waiver, provides the company additional time to align with Nasdaq’s criteria. TruGolf plans to file a preliminary proxy statement to organize a special shareholder meeting to vote on the reverse stock split strategy. The details of this waiver have been filed with the SEC, ensuring transparency in the company’s regulatory compliance efforts.
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