NEW YORK – Treasure Global Inc, a Delaware-incorporated business services provider, announced today the departure of two board members. Joseph “Bobby” Banks and Jeremy Roberts have resigned from the company’s Board of Directors, effective immediately.
The resignations were received and accepted by the company on Friday, with no reasons provided in the press release statement for their departure. The company, listed under the ticker symbol NASDAQ:TGL, operates in the business services sector and is recognized by its trading name 07 Trade & Services.
As per the SEC filing, Treasure Global is in compliance with the necessary regulatory requirements following the board changes. The company has not yet announced any successors for Banks and Roberts, nor has it indicated any changes to its strategy or operations as a result of the board’s reconfiguration.
InvestingPro Insights
Amidst the recent changes in Treasure Global Inc’s board, investors are keenly observing the company’s financial health and market performance. According to InvestingPro data, Treasure Global Inc holds a market capitalization of just $0.92 million, reflecting a very small company size within the business services sector. Notably, the company’s stock has experienced a significant decline, with a one-month price total return of -47.41%, and a staggering one-year price total return of -97.41%. This indicates a sharp downturn in investor confidence over the past year.
InvestingPro Tips suggest that while Treasure Global Inc is trading at a low Price / Book multiple of 0.3, indicating potential undervaluation, the company is quickly burning through cash. This financial trajectory could be concerning for investors, especially considering the company’s gross profit margin stands at a mere 2.15%. Moreover, the stock is known for high price volatility, which may be further exacerbated by the recent board resignations.
For those considering investing in Treasure Global Inc, or current shareholders looking to reassess their positions, there are over 15 additional InvestingPro Tips available, providing deeper insights into the company’s financial health and market performance. These tips could prove invaluable in making informed decisions in the volatile business services sector.
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