Svmuu News Nasdaq Publicly traded company Avalanche Treasury Corp (AVAT) stated in its quarterly report filed with the U.S. Securities and Exchange Commission (SEC) that there are significant doubts regarding the company’s ability to continue as a going concern.
Data shows that AVAT’s stock price has fallen 93% over the past month, dropping from over $10 in early June to below $0.73 on June 29.The company completed its reverse merger with Mountain Lake Acquisition Corp on June 11 and plans to establish a $1 billion AVAX reserve, but the value of its approximately $265 million AVAX holdings has now shrunk to about $123 million.
In addition, AVAX has fallen by approximately 47% year-to-date, trading at around $6.72 on Wednesday. (The Defiant)