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Damon Shares Plunge 77.33% Amid Nasdaq Delisting

Mover TrackerMonday, May 19, 2025 7:37 pm ET

7min read

Damon (DMN) shares plummeted by 77.33%, hitting a record low today with an intraday decline.

The strategy of buying DMN shares after they reached a recent low and holding for 1 week yielded moderate returns over the past 5 years. The annualized return was 15.23%, slightly underperforming the market by 0.77 percentage points. With a final value of $2,710, this strategy demonstrated the effectiveness of a simple, contrarian approach in generating consistent returns, although it missed out on the broader market's performance.

Damon has made significant strides in improving its financial health, reducing losses by 91% and securing $16.5 million in new funding. This financial boost has been crucial in stabilizing the company's operations and investor confidence.

The company has also diversified its business model, expanding beyond electric motorcycles to include personal mobility products and technology solutions. This diversification strategy focuses on four core revenue verticals: Data Intelligence, Personal Mobility, Licensing and Engineering Services, and Special Projects. This move aims to create multiple revenue streams and reduce reliance on a single product line, thereby mitigating risks and enhancing long-term sustainability.

In terms of operational and strategic developments, Damon has taken measures to minimize its burn rate through strategic headcount reductions and effective expenditure management. These cost-cutting initiatives have helped the company to operate more efficiently and extend its runway.

Additionally, Damon has signed an agreement with Engines Engineering to advance the development of the HyperSport Race Motorcycle. This collaboration is expected to reduce development costs and accelerate the delivery timeline, further enhancing the company's competitive edge in the market.

Damon's shares are set to be delisted from Nasdaq and will begin trading on the OTC Pink Current Market effective May 20, 2025. The company is actively working to meet the criteria to trade on the OTCQB Venture Market, which could provide more visibility and liquidity for its shares.

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