ZCAR stock plunges to 52-week low of $0.46 amid steep decline

ZCAR, the ticker symbol for Innovative International Acquisition Corp., has hit a 52-week low, with shares plummeting to just $0.46. According to InvestingPro data, the company’s financial health score stands at a concerning 1.36, labeled as ’WEAK’, with a current ratio of just 0.13 indicating severe liquidity concerns. This latest price level reflects a staggering 1-year change, with the stock experiencing a precipitous drop of -99.64%. The severe downturn in ZCAR’s market value has alarmed investors and market analysts alike, as the company grapples with challenges that have eroded shareholder confidence and decimated its stock price over the past year. With a debt-to-capital ratio of 0.8 and negative free cash flow yield of -4.89%, InvestingPro analysis reveals 16 additional key insights about ZCAR’s financial position in their comprehensive Pro Research Report.

In other recent news, Zoomcar Holdings Inc reported its financial results for the fourth quarter of 2024, revealing a notable improvement in contribution margin and a reduction in adjusted EBITDA loss. The company’s revenue increased by 1% to $2.45 million, while contribution profit saw a significant rise from $210,000 to $1.28 million. Zoomcar’s contribution margin jumped from 9% to 52%, and the adjusted EBITDA loss was reduced from $10.17 million to $3.15 million. These developments come as the company focuses on repeat user growth and optimizing operational costs. Additionally, Zoomcar raised $18 million between November 2024 and January 2025 to support business growth and debt restructuring. The company has received an extension to regain compliance with NASDAQ listing requirements by February 19, 2025. CEO Hiroshi Nishijima emphasized the company’s strategic positioning in the Indian market, while CFO Sachin Gupta highlighted ongoing efforts to raise additional funds and improve financial stability.

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