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Prestige Wealth Inc. - $PWM STOCK NEWS

Welcome to our dedicated page for Prestige Wealth news (Ticker: $PWM), a resource for investors and traders seeking the latest updates and insights on Prestige Wealth stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Prestige Wealth's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Prestige Wealth's position in the market.

Rhea-AI Summary
Prestige Wealth Inc. (Nasdaq: PWM) announced unaudited financial results for the six months ended March 31, 2023. Net revenues decreased by 68.41% to $565,330, primarily due to a decline in wealth management services. However, net revenue from asset management services increased to $490,455. Income from operations dropped by 82.82% to $256,556, resulting in net income of $238,872, down 81.70% from the same period in 2022. The company had cash and cash equivalents of $473,374 as of March 31, 2023, compared to $66,778 as of September 30, 2022.
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Rhea-AI Summary
Prestige Wealth Inc. (Nasdaq: PWM) will change its business address and mailing address to Suite 3201, Champion Tower, 3 Garden Road, Central, Hong Kong, effective July 31, 2023. The Company aims to maintain highest standards of excellence, enhance operations, and better serve its clients and partners.
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Prestige Wealth Inc. has closed its initial public offering (IPO) and started trading on the Nasdaq Capital Market. The Company sold 1,000,000 ordinary shares at a price of $5.00 per share, raising $5.0 million in gross proceeds. The underwriters have an option to purchase an additional 150,000 shares. The funds raised will be used for brand promotion, hiring, and expanding products and services.
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Prestige Wealth Inc.

Nasdaq:PWM

PWM Rankings

PWM Stock Data

9.61M
7.88M
24.13%
0.78%
1.32%
Securities and Commodity Exchanges
Finance and Insurance
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United States of America
Central