Avalanche Treasury Stock Plunges 73% Since Nasdaq Debut

Avalanche Treasury Co.'s stock has fallen sharply since its Nasdaq debut, weighed down by lower AVAX prices affecting the company's digital asset holdings.

The AVAT stock recently traded near $0.50, down about 73% from its $1.85 close on debut day (per Google Finance data). The decline continues a trend that began soon after the company listed under the ticker AVAT on June 11.

Avalanche Treasury still holds a significant $AVAX position, with a cost basis of $265.29 million and fair value of $122.76 million as of March 31, according to its latest SEC filing. The company reported a net loss of $26.78 million for the quarter ended March 31.

The $AVAX price has been relatively stable in recent days, trading near $6.68 on crypto.news price data, up 0.73% over 24 hours but down 24.24% over the past month.