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The rescue plan after Nasdaq's warning: how this Bitcoin Holdings company turned things around
[Chain News] Interesting news has arrived. A company listed on both the Nasdaq and Tel Aviv Stock Exchange has received a warning for maintaining its listing - as its stock price has fallen below $1 for 30 consecutive trading days, triggering Nasdaq's minimum bid requirement. However, they have secured a 180-day grace period (ending in mid-June next year), and as long as the stock price holds above $1 for 10 consecutive trading days, they can turn things around.
The company is contemplating emergency plans including a reverse stock split, and its operations have not been affected for the time being. This company is somewhat unique—it specializes in Bitcoin vault strategies and previously disclosed holding 1,036 Bitcoins. Last month, it also announced a $50 million stock buyback plan, apparently aiming to stabilize its stock price with real cash.
From a certain perspective, this also reflects the attitude of institutional investors towards Bitcoin asset allocation - even under pressure on stock prices, they insist on holding large Bitcoin positions.
Holding 1036 Bitcoins and still spending money on buybacks, this operation is quite hardcore.
The pressure to turn things around in 180 days is immense, I hope they can really hold on until the end.
Getting warned despite dual listings, how tragic must that be?
The 50 million buyback plan is indeed all in on Bitcoin.
With the stock price breaking a dollar, can the Reverse stock split really address the root issue? I feel for them.
Holding coins without wavering, on this point, I’m impressed.
If institutions are still holding strong, it indicates they haven't lost their minds.