DigiAsia (FAAS) Plummets 26% Intraday: What's Behind the Freefall?

Summary
• DigiAsia Corp. (FAAS) slumps 26.25% to $0.0935, hitting a 52-week low of $0.0826
• Nasdaq delisting announcement sparks regulatory uncertainty and liquidity concerns
• Technical indicators signal extreme bearish momentum with RSI at 18.49 and MACD below zero

The stock's freefall reflects a perfect storm of strategic overhauls, regulatory risks, and deteriorating technicals. With turnover surging 143% and the price nearly halving from its 52-week high of $2.93, investors are scrambling to decipher the catalysts behind this unprecedented collapse.

Voluntary Nasdaq Delisting Sparks Panic Selling
The 26% intraday plunge is directly tied to DigiAsia's announced voluntary Nasdaq delisting, a strategic move to unlock shareholder value. This decision, coupled with recent compliance issues and delayed filings, has triggered a liquidity crisis. Short sellers are capitalizing on the lack of transparency, while long-term holders face forced liquidation as the stock trades at 73% below its 200-day moving average of $0.4815. The delisting announcement has created a self-fulfilling prophecy of declining investor confidence.

Software-Infrastructure Sector Weakness Amplifies Pain
The broader software-infrastructure sector is under pressure, with Microsoft (MSFT) down 1.09% despite its dominant position. FAAS's collapse mirrors the sector's struggles with regulatory scrutiny and valuation corrections. However, FAAS's 26% drop far outpaces typical sector declines, highlighting its unique liquidity challenges and governance risks.

Bearish Technicals Demand Short-Side Aggression
• 200-day average: $0.4815 (far below current price)
• RSI: 18.49 (extreme oversold)
• MACD: -0.0455 (bearish divergence)
• Bollinger Bands: Price at 0.0826 (lower band)

Technical indicators scream short-term capitulation. Key support levels at $0.0826 (intraday low) and $0.073 (38.2% Fibonacci retracement) demand immediate attention. The stock's -1.9 PE ratio and -10.2% profit margin suggest fundamental deterioration. With no options liquidity available, aggressive short-sellers should target $0.065 as a potential 20% downside target from current levels.

Backtest DigiAsia Stock Performance
I attempted to pull DigiAsia’s daily price series for the ticker “FAAS.O”, but the data service could not locate that symbol (“ get_asset_base_info …”). This often happens when:• The ticker is listed under a different exchange suffix (e.g., FAAS, FAAS.KQ, FAAS.NQ, etc.). • The company is very thinly traded or recently delisted, so historical OHLC data are not stored in the standard feed.To proceed with a precise –26 %-plunge back-test, I need to retrieve correct daily OHLC data. Could you please confirm one of the following?1. The exact ticker symbol recognized by your market data source (e.g., FAAS, FAAS.OQ, FAAS.NM, etc.). 2. If you already know the specific dates when FAAS dropped ≥ 26 % intraday, you can supply those dates directly and we can skip the automatic detection step.Once I have either (1) the correct ticker code or (2) the plunge dates, I can run the event back-test immediately.

Immediate Action Required: Lock in Shorts Before Regulatory Fallout
The delisting announcement and deteriorating technicals confirm a structural breakdown. With RSI at extreme oversold levels and price action below all major moving averages, this is a high-conviction short opportunity. Microsoft's -1.09% decline underscores sector-wide fragility, but FAAS's unique liquidity crisis makes it the most vulnerable. Investors must act swiftly to secure short positions before regulatory uncertainty triggers further panic. Watch for a breakdown below $0.0826 to confirm the next leg down.