AVAX One (AVX) stock falls more than 30% on insider share registration
AVAX One shares dropped over 32% after insiders registered nearly 74 million shares for potential public resale.Summary
AVAX One, a digital asset treasury firm advised by Anthony Scaramucci's SkyBridge Capital, experienced a sharp stock decline of over 32%. This drop followed the company's disclosure that nearly 74 million shares held by insiders were registered with the SEC, making them available for resale on the public market.
The significant market reaction suggests investor concern regarding potential share dilution, as the registration signals that a large block of restricted stock might soon enter the open market, which typically depresses prices, especially for thinly traded stocks.
Despite this, AVAX One had recently announced a plan to buy back up to $40 million of its own shares if the net asset value of its holdings fell below its market cap, a strategy mirroring other crypto-native firms facing similar valuation pressures.
(Source：CoinDesk)