In a stark reflection of investor sentiment, Alset Capital Acquisition Corp. (HWH) stock has tumbled to a 52-week low, touching a price level of just $1.26. With a market capitalization of $9.3 million and an InvestingPro Financial Health score of 1.13 (labeled as ’WEAK’), the company’s fundamentals warrant careful analysis. This latest dip underscores a prolonged bearish trend for the company, which has seen its stock value erode by a staggering 69.68% over the past year. The significant drop in price points to underlying challenges and market pressures, reflected in the company’s negative EBITDA of -$1.59 million and concerning return on assets of -134.83%. InvestingPro analysis reveals 8 additional key insights about HWH’s performance and outlook. As stakeholders grapple with the implications of this decline, Alset Capital’s management faces the critical task of restoring confidence and steering the company back towards a path of growth and stability, particularly given its current revenue of $1.17 million and negative earnings yield of -33%.
In other recent news, HWH International Inc. has completed a public offering, raising approximately $1.76 million in gross proceeds. The offering included the sale of 3,162,500 shares of common stock and 1,250,000 pre-funded warrants, with shares priced at $0.40 each. This financial move was facilitated by D. Boral (OTC:BOALY) Capital LLC, which acted as the exclusive placement agent. The company also announced a 1-for-5 reverse stock split of its common stock, effective February 24, 2025, to comply with Nasdaq’s minimum bid price requirement. This reverse stock split was approved by the company’s board and a majority of its stockholders. Additionally, HWH International has regained compliance with Nasdaq’s listing requirements, as confirmed by a notice from the Nasdaq Stock Market. The company had previously been under scrutiny for not meeting Nasdaq’s minimum equity requirements. The receipt of a Compliance Notice from Nasdaq confirms that HWH International’s common stock has met the necessary criteria for listing.
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