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VivoPower Shares Rally 14% After Announcing $19 Million Equity Raise To Boost XRP Treasury — Stock Sees Slight Pullback Pre-Market
['Aniket Verma']
Benzinga - Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals
VivoPower International PLC (NASDAQ:VVPR) shares are marginally lower in Thursday's pre-market trading, following a double-digit surge on a $19 million equity raise to support its XRP (CRYPTO: XRP) treasury strategy.
VivoPower Raises Equity To Boost XRP TreasuryThe stock slid 0.78% after-hours, a minor pullback after rallying 14% during Tuesday's regular trading session.
In August, VivoPower announced acquiring $100 million of privately held shares of Ripple Labs, a company that extensively uses XRP and XRPL for its operations.
VivoPower shares fell 0.78% in pre-market trading after closing 14% higher at $5.130 during Wednesday’s regular trading session.
How does it compare with Strategy Inc. (NASDAQ:MSTR) and other cryptocurrency treasury companies?