American Bitcoin Shares Plunge 7.2% to New Low Before Reverse Split
HUT•American Bitcoin Corp shares slid 7.2% to a new low ahead of its planned reverse stock split, reflecting investor concern over dilution. The stock faced further selling pressure after reports that Meta Platforms plans to build its own cloud infrastructure, casting doubt on demand for third-party data-center services.
1. Stock Slides to Fresh Low
American Bitcoin Corp shares fell 7.2% on July 1, hitting their lowest price since listing as investors weighed the impact of a planned reverse stock split on share value and liquidity.
2. Meta Push Intensifies Selling Pressure
News that Meta Platforms intends to develop its own cloud infrastructure further dampened sentiment for third-party data-center and AI compute names, exacerbating the decline in American Bitcoin’s share price.
