Real estate technology company reAlpha TechAIRE is experiencing a significant surge, jumping 160.59% in premarket trading, surpassing even some of the largest US companies like Apple and Meta. The Dublin-based firm has announced its intention to use cryptocurrencies as primary treasury reserve assets, joining other prominent crypto-related stocks.
The company’s move comes after a recent announcement that it would adopt certain cryptocurrencies as part of its investment policy. This decision was made by reAlpha TechAIRE’s board of directors on December 19 and led to a significant increase in the stock price, with a surge of over 30% on the same day.
In addition to adopting cryptocurrencies, reAlpha TechAIRE also announced a share offering that is still pending. The company had limited cash reserves at the end of the third quarter, which may have contributed to its decision to invest in cryptocurrencies as a way to diversify its assets.
This move by reAlpha TechAIRE highlights the growing interest in the intersection of real estate and cryptocurrency technology. The company’s use of AI-powered homebuying platforms is also seen as an attempt to tap into the rapidly growing US real estate market.
It’s worth noting that reAlpha TechAIRE has a history of experiencing rapid price movements, having spiked by over 1,600% in its first day on the Nasdaq. However, this surge was short-lived, and the stock eventually returned to pre-listing levels.
Source: https://sherwood.news/markets/tariff-exposed-stocks-just-got-crushed-in-the-sell-off