3 E Network (MASK) Falls Hard Below Minimum Bid Price

We recently published 10 Stocks Losing Big. 3 E Network Technology Group Ltd. (NASDAQ:MASK) is one of the worst performers of Tuesday.

Shares of 3 E Network dropped for a second day on Tuesday, shedding 14.03 percent to close at $0.57 apiece amid the lack of fresh catalysts to boost investing appetite.

Tuesday also marked the company’s 10th consecutive day of trading below the Nasdaq’s minimum bid price requirement of $1, potentially supporting investor pessimism.

3 E Network Technology Group Ltd. (NASDAQ:MASK) is a Hong Kong-based company providing business-to-business information technology solutions, and is slowly transitioning to Bitcoin treasury building.

In its recent move to expand Bitcoin ownership, 3 E Network Technology Group Ltd. (NASDAQ:MASK) successfully raised $7.4 million in fresh funds through the issuance of senior secured convertible notes and warrants to an institutional investor. The total amount represents the first of a three-tranche private offering.

The company said part of the proceeds will be used to acquire Bitcoins, in line with its plans to build cryptocurrency reserves and support its growth initiatives in the Web 3.0 era.

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