$AVAX 🚨 Avalanche Treasury Stock Drops 73% Since Nasdaq Debut
Avalanche Treasury (#AVAX ) has fallen 73% since its June 11 Nasdaq debut, as declining #AVAX✈️ prices weighed on its balance sheet.
The company reported a $26.8M Q1 net loss, with its 13.39M $AVAX holdings dropping in value from $265.3M to $122.8M.
$AVAX previously raised going concern doubts but says its $675M SPAC merger has improved liquidity and supports operations for the next 12 months.
Avalanche Treasury (#AVAX ) has fallen 73% since its June 11 Nasdaq debut, as declining #AVAX✈️ prices weighed on its balance sheet.
The company reported a $26.8M Q1 net loss, with its 13.39M $AVAX holdings dropping in value from $265.3M to $122.8M.
$AVAX previously raised going concern doubts but says its $675M SPAC merger has improved liquidity and supports operations for the next 12 months.