Avalanche Treasury Co. Shares Fall 73% Since Nasdaq Debut After Q1 Loss and AVAX Write-Down

Avalanche Treasury Co. shares have fallen 73% on Nasdaq since the company’s June 11 debut, following first-quarter results that highlighted operational challenges. According to NS3.AI, the company reported that its operating entity recorded a net loss of $26.78 million and ended the quarter with a $9.06 million working capital deficit. The filing also detailed a decline in the value of the firm’s AVAX holdings. Avalanche Treasury Co. said its 13.39 million AVAX tokens dropped from a $265.3 million cost basis to $122.8 million in fair value by quarter-end.