Alset Ehome International Inc. (AEI) is focused on multiple retailing businesses such as property investments, asset management, and cryptocurrency mining services. The company’s shares inclined by 6.81% to remain at $0.79 at the closing of Monday’s regular trading session. Its price instantly dropped significantly by 20.6% in the post-market session. The current stock price as of the writing stands at $0.62.
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AEI: Recent Developments
AEI reported the filing of Form 4 and S-3 with the Securities and Exchange Commission. The insider trading took place as the reports suggest that the company’s founder, Heng Fai Chan, currently bought a $3.96 million shares, at a price range of $0.5-0.76. In early 2022, he paid a per-share price of $0.60 in a $4.4 million acquisition. The company also announced the release of its annual 2021 financial report on March 31. It reported a 22% increase in its revenue YoY compared to fiscal 2020, thus putting it in a strong position.
AEI: Industry Outlook
The penny stocks are affected by multiple factors including increased inflation, soaring interest rates, geopolitical tensions, fuel prices, or virus resurgence, along with other catalysts playing their part in positioning the penny stocks. Also, AEI is a part of the cryptocurrency mining industry and it is estimated that it will have a CAGR of 28.5% with a worth of $5.29 billion by 2028.
AEI: Company Outlook
The company stands at a 1 year low of $0.25 against a high of $11.2, with a market cap of $89 million. In March, the company launched Alset Mining Inc. to continue with its mining business. Also, the company appointed Anthony S. Chan as the group’s new Chief Operating Officer.
The analysts believe that insider trading is good for the company. But AEI is making losses as visible in its dropping stock performance from the last year by 90%. Its recent stock drop is also the impact of insider trading. The investors are optimistic that the company will bounce back in short time span.