Antelope Enterprise (AEHL) stock rocketed higher on Tuesday after the ceramic tiles manufacturer announced plans to create a crypto treasury. It has reached an agreement with U.S.-based investment firm Streeterville Capital, LLC for $50 million, which it will use to purchase Bitcoin (BTC). These funds will be provided to the company in tranches over a period of up to 24 months.
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Tingting Zhang, CEO of Antelope Enterprise, said, “We have developed a clear and well-defined digital asset roadmap, and this financing provides the capital capability needed to support our long-term strategic goals. Bitcoin, as a scarce and decentralized digital asset with growing global consensus, will be a key component of our new capital structure.”
Antelope Enterprise Stock Movement Today
Antelope Enterprise stock was up 28.71% on Tuesday but has fallen 40.02% year-to-date and 97.3% over the past 12 months. Today’s Bitcoin news brought heavy trading, with some 2.76 million shares having changed hands, compared to a three-month daily average of about 66,000 units.
Is Antelope Enterprise Stock a Buy, Sell, or Hold?
Wall Street’s coverage of Antelope Enterprise is lacking, but TipRanks’ AI analyst Spark has it covered. Spark rates AEHL stock a Neutral (45) with a price target of $3.50, representing a potential 28.28% downside for the shares. It cites “poor financial performance, with significant financial instability and operational inefficiencies” as reasons for this stance.
