Ripple-Backed Evernorth Hits Nasdaq Holding 473 Million XRP Worth Far Less Than It Paid
Summary
Evernorth shares started trading on Nasdaq following a completed SPAC merger. Most early investors chose to cash out beforehand, leaving the holding with an XRP portfolio valued significantly below its initial purchase price.
Evernorth's XRPN shares began trading Monday after its SPAC merger closed, but 80% of SPAC investors cashed out first and its XRP stash is worth roughly 40% less than at signing.
Source: Read the full story at Decrypt
Disclaimer: This content is for informational and educational purposes only and is not financial, investment or trading advice. Tech & Money Press is not a registered investment adviser or broker-dealer. Trading stocks, options and crypto involves substantial risk, including the loss of your entire investment. Do your own research and consult a licensed professional before making any financial decision. The authors may hold positions in the securities mentioned. News summaries are written with AI assistance from the original publisher's report and may contain errors; always check the original source. Full disclaimer.