Armada Acquisition Corp. II

Evernorth's XRPN shares fall about 83% from post-listing peak in a month

Evernorth◼'s XRPN shares, which began trading on Nasdaq on 12 October after its merger with Armada Acquisition Corp. II◼, are down roughly 83% from an intraday high near $53. The stock touched $8.35 last week and fell more than 23% on 10 November, closing at $7.96 after a resale prospectus took effect. XRP◆ fell from about $1.40 at the debut to just above $1.00, so the equity has underperformed the token.