AvalancheOne regains Nasdaq listing compliance after reverse stock split

AvalancheOne Technology (AVX), an Avalanche (AVAX) acquisition company (DAT), has regained compliance with Nasdaq's minimum bid price requirement, Decrypt reported. The company was previously non-compliant due to a falling stock price but executed a 1-for-12 reverse stock split on June 15. Following the split, its stock price remained above $1 for 10 consecutive trading days from June 15 to June 29, satisfying the listing rule. AvalancheOne holds approximately 14 million AVAX, valued at $95 million, which it is staking for an annual yield of around 6%. The company's current market capitalization is below the value of its AVAX holdings.