Maison Solutions (MSS) stock rocketed higher on Monday after the U.S.-based specialty grocery retailer announced a Securities Purchase Agreement with a U.S. institutional investor for a $70 million private placement. This will have the investor hold convertible notes tied to the company’s stock.
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What’s interesting is what Maison Solutions plans to do with the funds from this private placement. Rather than spend them on expanding its retail footprint or product lineup, the company will use the funds to purchase Worldcoin (WLD-USD). This will make it the latest company to adopt a digital asset treasury strategy, which has become a growing trend following Strategy’s (MSTR) success with its Bitcoin (BTC-USD) purchases.
Maison Solutions CEO John Xu said, “By integrating Worldcoin into our digital asset treasury, we’re going beyond diversifying our balance sheet but also exploring blockchain’s potential to enable proof-of-human identity and a global currency – advancing innovation at the intersection of technology, trust, and financial inclusion.” He also noted the company intends to adopt new technology to enhance its grocery store business, such as artificial intelligence (AI) and blockchain.
Maison Solutions Stock Movement Today
Maison Solutions stock was up 471.73% in pre-market trading on Monday, following a slight drop on Friday. The shares have fallen 21.72% year-to-date and 35.47% over the past 12 months. With today’s news came heavy trading, as some 36 million shares changed hands, compared to a three-month daily average of about 594,000 units.
Is Maison Solutions Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Maison Solutions is Moderate Buy, based on a single Buy rating over the past three months. With that comes a $4 price target for MSS stock, representing a potential 318.85% upside for the shares.
