Today, a number of small-cap penny stocks are gaining attention. Among the key micro-cap stocks in focus for investors today is Alset EHome Entertainment (NASDAQ:AEI) and AEI stock.
This is a stock we’ve been following this year, as it’s one that’s surged and declined in incredible fashion. AEI stock opened the year around $5 per share, before surging to nearly $30 per share during the speculative meme-stock bubble in Q1. However, it has steadily declined from there. In fact, in recent days, AEI stock has managed to approach 50 cents per share, good for a 90% loss from the beginning of the year and approximately 99% from its peak earlier this year.
That’s not to say this volatile stock hasn’t had its spikes this year. In June, we reported on speculation that Alset could be working with Tesla (NASDAQ:TSLA) to package Tesla vehicles with Alset smart homes. Nothing ultimately took place on this front, and sentiment quickly fizzled for AEI stock.
However, today, investors have been presented with another potential catalyst to hang their hats on. Let’s dive into the metaverse news that’s getting some investors excited in AEI stock.
AEI Stock Moves Higher on Metaverse Speculation
- Today, AEI stock did increase, which was a welcome sight for investors who have seen nothing but a sea of red since Q1.
- This stock was up 4% on news that Alset Ehome has launched a new subsidiary — Alset Metaverse Inc.
- This subsidiary is aimed at incubating and investing in metaverse-related projects.
- The metaverse is a space that’s broadly been defined as online spaces in which to engage.
- With digital real estate surging lately, Alset is looking to grab a piece of this growing pie.
- Alset Metaverse has launched a partnership with Hapi Cafe to provide virtual reality rooms for engagement.
- Other growth avenues with this subsidiary include non-fungible token (NFT) launches.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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