Avalanche Treasury Corp's stock price plummeted by 93%, resulting in a decrease in the value of AVAX holdings

According to The Defiant, Avalanche Treasury Corp, a Nasdaq listed company, warned in its SEC quarterly report of significant doubts about its ability to continue as a going concern. The company's stock price has fallen 93% in the past month, from over $10 in early June to below $0.73 on June 29th. Avalanche Treasury Corp plans to establish $1 billion worth of AVAX holdings, with approximately $265 million in AVAX purchase costs currently reduced to approximately $123 million.