Avalanche Treasury Stock Plunges 73% to $0.50 Since June 11 Debut Amid $26.78M Q1 Loss

AVAX0.46%
According to Securities and Exchange Commission filings reviewed by The Block, Avalanche Treasury Co. (AVAT) stock plunged 73% from its June 11 debut price of $1.85 to $0.50 on Wednesday (July 2), following the company's disclosure of a net loss of $26.78 million in the first quarter. The losses were primarily driven by unrealized losses on the company's AVAX holdings, which fell from a cost basis of $265.3 million to a fair value of $122.8 million by March 31.
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