Enlivex Stock Hits All-Time Low of $0.42 Amid RAIN Token Holdings

Nasdaq-listed Enlivex shares plummet to record low $0.42 despite holding 78.8B RAIN tokens worth $1.2B, as founder faces $290M investigation.

Woofun AI reports that Enlivex stock reached an all-time low of $0.42 on the Nasdaq. The company, which pivoted from biotechnology to a digital asset treasury in November 2025, raised over $200 million via private placements to acquire approximately 78.8 billion RAIN tokens. These holdings carry a notional value of $1.2 billion, constituting 12% of the circulating supply, yet the firm's market capitalization stands at only $118 million. The decline follows scrutiny of founder Moshe Hogeg, who is subject to a $290 million enforcement investigation, with on-chain analyst ZachXBT previously characterizing the token as exit liquidity for insiders.