News
Evernorth shares plunge over 40% as insiders register millions for resale
Evernorth Holdings (XRPN) fell more than 40% after filing a prospectus with the SEC that listed 73,688,162 Class A shares for potential resale by existing shareholders. The stock, which began trading on Nasdaq on Oct. 12, dropped 23.54% on Nov. 10 to $7.96, with volume rising to about 1.39 million shares from 369,000 the day before. Since its Oct. 28 closing price of $15.26, the share price is down roughly 48%, and it is about 59% lower than its debut high of $19.39. Major shareholders such as Arrington XRP Capital (33.82 million shares), Ripple Labs (18.14 million) and the Larsen Lam Children’s Remainder Trust (7.15 million) have registered shares for possible sale, though lock‑up agreements keep them from selling until at least April 9 2027.