Addentax Group Plunges 19.55% on $800M Crypto Bet

Addentax Group's stock price plummeted by 19.55% in pre-market trading on May 16, 2025, marking a significant downturn for the company.

Addentax Group has announced an ambitious plan to acquire up to $800 million in Bitcoin and TRUMP tokens. This move is part of the company's strategy to expand its presence in the cryptocurrency market. The acquisition will be funded through the issuance of new stock, which aims to attract new shareholders and strengthen the company's balance sheet with highly liquid and widely recognized digital assets.

The company's decision to invest heavily in cryptocurrencies comes at a time when the market for digital currencies is experiencing volatility. This bold move could potentially position Addentax Group as a key player in the crypto space, but it also carries significant risks given the unpredictable nature of the market.