Tian Ruixiang Secures $80M Investment from SwiftStart
Tian Ruixiang Holdings Ltd's stock price dropped significantly, crossing below the 5-day SMA, amid a challenging market environment where the Nasdaq-100 fell by 2.19% and the S&P 500 declined by 1.27%.
The company announced a strategic memorandum of understanding (MOU) with SwiftStart Inc., which plans to invest $80 million at a proposed price of $1.50 per share. This investment is expected to enhance TIRX's competitiveness in global capital markets and expand collaboration in digital transformation and risk management. However, the MOU is non-binding, and the completion of the transaction is subject to negotiations and regulatory approvals, indicating potential uncertainties ahead.
Despite the positive news of the investment, TIRX's stock remains under pressure due to a recent Nasdaq delisting notification, which could impact investor confidence. The company is actively working on a compliance plan to address these issues.
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