Is Alset EHome International a Winner in the Real Estate Development Industry? By StockNews
Despite home prices increasing beyond affordability, Alset EHome International’s shares have risen in the last month. 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. In the midst of a hot housing market, its shares rose to their highest price ever at $29.49 on Friday. The stock has gained 65.8% over the past month to close Friday’s trading session at $3.05.
AEI signed a Sales of Goods Agreement on July 27 with Puradigm, LLC in order to obtain innovative and patented purification technologies that are integrated into eco-friendly single-family homes. AEI’s subsidiary, American Pacific Bancorp, Inc., completed a subscription agreement with Document Security Systems, Inc. (NYSE:) on September 9. DSS, which acquired 50% of American Pacific Bancorp’s outstanding common stock, became majority owner.
AEI’s shares have lost 40.2% in price over the past three months and 77.9% over the past six months. Hedge funds are not able to make a significant investment in this stock. So, AEI’s near-term prospects look bleak.
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