Earlier last night, stock for Alset EHome International (AEI), the US-based diversified holding company, saw significant growth, late into the after-hours. Following a modest gain of 4.82% during regular hours, AEI stock saw a shoot up nearing 20.57%, less than four hours after trade closure for the day. Given the impressive trajectory, this penny stock is being closely watched by retail investors, particularly across social media. The AEI stock, whilst certainly going through a price explosion, has been steadily seeing gain for a week, bagging in a net climb of 27.31% since last Thursday.
Capturing Metaverse-related Opportunities
The hype around the stock can be attributed to Alset setting its sights big, with the announcement to set up Alset Metaverse. This established portal would be used to incubate and invest in initiatives linked primarily to the metaverse phenomenon and related technologies. With plans of setting up virtual cafes, through the use of immersive VR tools, Alset EHomes is poised to ride the train of this game-changing phenomenon.
Corporate Restructure: Hiring of seasoned COO
Similarly, the board of directors released their review for the prior year, showing confidence in the various initiatives and projects the company was committed to. Furthermore, the company announced last month, the signing on board of its new Chief Operating Officer, Anthony S Chan. The former Certified Public Accountant (CPA) holds over 30 years of professional experience, serving in the role of CFO and director for a range of major public companies. Having served the role of co-founder and president of CA Global Consulting, Chan is well suited to address operational inefficiency, compliance as well as risk management. His hiring is a clear signal of Alset EHome International’s plans for expansion within the short-term future.
These turnarounds for Alset Ehome come after a disappointing spell last year where the stock diminished by 97.27% in a single year. Coming down to $0.34 per share, from $13.8 indicates the shifting economic trends the company has been subject to. Alset Ehome International’s most significant strength may just be its diversified nature, as a result of which it does not shy away from new ventures it deems as adding value.
Conclusion
The AEI stock is on a substantially bullish trend with a significant gap yet to be covered. This had been spurred on earlier last week and could be linked to the company’s plans for business expansion. With the establishment of a vehicle to capitalize on metaverse opportunities, as well as the announcement of its new COO, Alset Ehomes is clearly setting its sights big.
