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Max Gottschalk, a director and ten percent owner of Perfect Moment Ltd. (NASDAQ:PMNT), recently increased his stake in the company with a series of stock purchases. According to a recent SEC filing, Gottschalk acquired a total of 25,500 shares of common stock over two days. The insider buying comes as the stock trades near its 52-week low of $0.66, having declined 77% over the past year. InvestingPro data shows the company’s market capitalization stands at $16.22 million.
On March 4, Gottschalk purchased 9,739 shares at a weighted average price of $0.9446 per share and 4,000 shares indirectly through Joachim Gottschalk & Associates Ltd. at $0.95 per share. The following day, he acquired an additional 8,761 shares at an average price of $0.9589 per share and another 3,000 shares indirectly at $0.9817 per share. The total value of these transactions amounted to approximately $24,345, with purchase prices ranging from $0.9446 to $0.9817 per share.
Following these transactions, Gottschalk’s direct and indirect holdings in Perfect Moment have increased, reflecting his continued confidence in the company. InvestingPro subscribers can access additional insights, including 8 more ProTips and comprehensive financial health metrics for PMNT.
In other recent news, Perfect Moment Ltd. announced the launch of its new puffer tote bag and sunglasses collections, expanding its footprint in the luxury lifestyle market. The collections, which feature Italian-crafted bags and sustainable sunglasses, are designed to blend practicality with style. Additionally, Perfect Moment faces a potential delisting from the NYSE American due to non-compliance with the exchange’s minimum stockholders’ equity requirements. The company’s stockholders’ equity was reported at $2.7 million as of September 30, 2024, falling short of the $4.0 million threshold. Perfect Moment has until January 10, 2024, to submit a compliance plan to avoid delisting proceedings. In a move to strengthen its financial position, Perfect Moment secured a $2 million investment through a Convertible Secured Note Purchase Agreement. The note carries a 15% annual interest rate and matures on December 6, 2025, with an option for investors to convert it into common stock. These developments reflect the company’s ongoing efforts to navigate financial challenges and expand its product offerings.
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