Is Alset EHome International a Winner in the Real Estate Development Industry? By StockNews
© Reuters. Is Alset EHome International a Winner in the Real Estate Development Industry?
Shares of Alset EHome International (AEI) have surged over the past month despite home prices rising beyond the affordability of many buyers. However, can the stock continue rallying in price despite the company’s widening losses in the last quarter? Let’s find out.Formerly known as HF Enterprises Inc., Alset EHome International Inc. (AEI) in Bethesda, Md., does business in property development, digital transformation technology, and biohealth. Its shares soared to hit their all-time $29.49 price high on February 16, 2021, amid the red-hot housing market. The stock has gained 65.8% over the past month to close Friday’s trading session at $3.05.
On July 27, AEI made a Sales of Goods Agreement with Puradigm LLC to secure innovative and patented air and surface purification solutions integrated into its eco-friendly single-family home communities. AEI’s subsidiary, American Pacific Bancorp, Inc., completed a subscription agreement with Document Security Systems, Inc. (NYSE:) on September 9. As a result, DSS became the majority owner of American Pacific Bancorp, acquiring 50% of its outstanding shares of common stock.
AEI’s shares have lost 40.2% in price over the past three months and 77.9% over the past six months. Moreover, hedge funds don’t have a meaningful investment in the stock. So, AEI’s near-term prospects look bleak.
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