LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Stronghold Digital Mining, Inc. (“Stronghold” or the “Company”) (NASDAQ: SDIG) investors concerning the Company’s possible violations of the federal securities laws.
“significant headwinds in our operations which have materially impacted recent financial performance.”
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If you suffered a loss on your Stronghold investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/stronghold-digital-mining-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.
In October 2021, Stronghold conducted its initial public offering (“IPO”), selling 6.88 million shares of Class A common stock for $19.00 per share.
On March 29, 2022, after the market closed, Stronghold announced its fourth quarter and full year 2021 financial results. The Company reported a net loss of $0.52 for the quarter, below analyst estimates of $0.04 earnings per share, and Stronghold’s Chief Executive Officer cited “significant headwinds in our operations which have materially impacted recent financial performance.”
On this news, Stronghold’s stock declined as much as 35%...
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