Eightco Holdings shares are trading higher after the company announced it improved its balance sheet by eliminating $5.4 million in convertible notes and increasing shareholder equity by $23 million. The company also stated it expects to deliver $100 million in revenue for 2025.
Portfolio Pulse from Benzinga Newsdesk
Eightco Holdings shares rose after the company announced the elimination of $5.4 million in convertible notes and an increase in shareholder equity by $23 million. The company also projects $100 million in revenue for 2025.
September 25, 2024 | 4:05 pm
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Eightco Holdings improved its financial position by eliminating $5.4 million in convertible notes and increasing shareholder equity by $23 million. The company also projects $100 million in revenue for 2025.
The elimination of $5.4 million in convertible notes reduces debt, improving the company's financial health. The increase in shareholder equity by $23 million is a positive sign for investors, indicating a stronger balance sheet. The revenue projection of $100 million for 2025 suggests growth potential, likely boosting investor confidence and driving the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100