Overview
- ABTC fell roughly 40%–50% intraday on Dec. 2 with repeated trading halts as volume spiked to about 55 million shares against a 3 million average.
- The stock steadied Wednesday near $2.30–$2.40 after closing at $2.19 on Tuesday, recovering a portion of the initial drop.
- The selloff followed the first major release of pre‑merger private placement shares, while many historical holders remain restricted until March 3, 2026, under a 180‑day lockup and some under a standstill through Sept. 3, 2026.
- Majority owner Hut 8, which holds roughly 80% of ABTC, fell about 12%–15% alongside the rout.
- Company disclosures highlight Q3 revenue of about $64.2 million, net income near $3.5 million, and roughly 4,004 BTC on the balance sheet, with management warning of more near‑term volatility as additional unlocks arrive.