Soluna Holdings, Inc., together with its subsidiaries, engages in the mining of cryptocurrency through data centres. It operates through three segments, Cryptoc...
Soluna Holdings experienced a rally-and-pullback pattern on Wednesday, driven by a mix of strategic developments and persistent financial pressures. Pre-market news of the complete redemption of Series B Preferred Shares to simplify capital structure (news id:290828130), coupled with the announcement of a joint venture with DC Kati Venture committing up to $21 million and 350 MW of capacity (news id:289182479), propelled the stock to an intraday high of $1.326 in early regular trading. However, the upside was capped by Q1 earnings showing operating loss widened by 131.66% year-over-year to $16.6 million, while net loss expanded 94.29% to $20.4 million, despite a 58.25% revenue increase to $9.39 million. The stock settled back around $1.30, with the latest trade at $1.303 still 74.65% below its 52-week high of $5.14 and trailing significantly below both its 20-day MA of $1.477 and 60-day MA of $1.49, underscoring the market's wait for a clearer profitability turnaround.
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Soluna (NASDAQ:SLNH) Trading Down 3.1% - Time to Sell?
$Soluna(SLNH.US) is a shtco like $Bakkt(BKKT.US), $Strive(ASST.US), and $IREN(IREN.US).
That is actively diluting everyone with a $500M ATM.Not sure why anyone even listens to a guy who has consistently crashed retail portfolios over and over.I’m going to watch them raise $500M off retail bagholders that get diluted to $0.Then say “we have $500m on our balance sheets, MC should be higher” and award themselves SBC off the ATM. They’re all absolutely terrible longs.Source: Serenity
