By Josh Beckerman
EUDA Health Holdings Ltd. shares rose 34%, to $3.63, on Friday after five consecutive daily declines.
Last week, Singapore-based digital health company EUDA Health Ltd. merged with 8i Acquisition 2 Corp., a blank check special purpose acquisition company, to form EUDA Health Holdings.
The stock for the combined company, EUDA Health Holdings, has been down over 20% since Nov. 20 and over 62% since Nov. 4, up until when shares traded within a narrow range of $9 and $11.
According to a securities filing Wednesday from EUDA Health Holdings Ltd., EUDA Health Ltd. had revenue of $7.4 million for the nine months ended Sept. 30, down 5.7% compared with the same period last year. Net loss was $2.4 million, compared with a profit of $1 million in the comparable 2021 period.
The filing also detailed ownership stakes revealing that EUDA Health Holdings’ largest stockholder is Watermark Developments Ltd., a British Virgin Islands company which owns a 38.5% interest.
Write to Josh Beckerman at josh.beckerman@wsj.com
Read More: EUDA Health Holdings Up 34% After String of Declines