Ticker history: ELWS became PDC (Perpetuals.com Ltd) on . Earlier news and filings retain their original names and dates. View ELWS history.
What Changed
Price Move History
- Daily moves over 5%
- 103 252 sessions, November 7, 2025 to November 9, 2026
- Largest daily move
- +43.1% close of October 28, 2026
- 1-year change
- -34.9% closing prices, November 7, 2025 to November 9, 2026
- 1-month change
- -21.8% closing prices, October 9, 2026 to November 9, 2026
Company Description
Perpetuals.com Ltd (PDC) Company Overview
Perpetuals.com Ltd is a Nasdaq-listed fintech company developing AI-powered trading products, prediction markets, blockchain technology solutions, and regulated trading infrastructure. The company trades under the symbol PDC and is identified in SEC filings as a foreign issuer that reports using Form 6-K and Form 20-F. Its principal executive office is listed in Tokyo, Japan, while company materials describe a global footprint across the United States, Europe, and Asia.
Perpetuals.com Ltd was formerly known as Earlyworks Co., Ltd. SEC filings describe the former company as a Japanese provider of blockchain technology solutions. Under the Perpetuals.com name, the company’s public materials focus on financial technology, AI-assisted market participation, digital assets, and trading venue infrastructure.
Business Focus
Perpetuals.com Ltd develops technology for trading products and prediction markets. The company’s public descriptions center on two related areas: consumer-facing trading experiences and infrastructure used by regulated trading venues. This places PDC at the intersection of fintech, AI trading systems, blockchain-based market infrastructure, and digital-asset regulation.
The company’s flagship consumer product is UpsideOnly, which Perpetuals describes as a risk-free trading and market prediction platform. Company filings and press releases describe UpsideOnly as a paper trading platform where users simulate trades with virtual money across global equity, commodity, foreign exchange, and crypto markets. The platform is designed around market predictions, trading signals, and profit-sharing for eligible top-performing users when the company’s AI validates certain trading activity.
Perpetuals also develops BayesShield AI, a proprietary AI system used in connection with UpsideOnly. Company materials state that BayesShield combines AI and data analysis, monitors market activity, identifies patterns for trading and risk decisions, and supports multi-asset coverage. In the company’s description of the system, BayesShield looks for groups of qualified traders taking similar positions at roughly the same time, and those signals can inform UpsideOnly trading strategies.
Regulated Trading Infrastructure
Perpetuals’s technology is used by Perpetual Markets Multilateral Trading Facility, also referred to as PM MTF Ltd. Company releases describe PM MTF Ltd as an EU-licensed multilateral trading facility operating under MiFID II, MiCA, DORA, and EMIR compliance. This regulated venue foundation is a central part of Perpetuals’s public business profile because it connects the company’s trading technology with European market rules.
Perpetuals says this regulatory foundation supports white-label trading services that allow partners to launch on licensed infrastructure instead of building their own. Public materials also state that Perpetual Markets MTF received authorization from the Cyprus Securities and Exchange Commission under the European Union’s Markets in Crypto-Assets Regulation. The company described that authorization as enabling crypto-asset services such as custody, trading, order execution, and transfer services.
Digital Assets and Blockchain Technology
Digital assets and blockchain technology are part of Perpetuals.com Ltd’s documented business identity. The company’s background includes its former identity as Earlyworks Co., Ltd., described in SEC materials as a Japanese provider of blockchain technology solutions. More recent company materials describe Perpetuals as developing AI-powered trading products and prediction markets while using regulated infrastructure tied to traditional finance and digital-asset markets.
Perpetuals has also disclosed work involving tokenized commodity assets through an agreement with Datavault AI Inc. SEC filing exhibits described the agreement as involving tokenized gold, copper, geothermal energy, and critical minerals for trading on the Perpetuals platform, targeting trading on PM MTF Ltd. This disclosure links the company’s platform strategy to tokenized real-world assets and regulated trading venue access.
Research and Data
Perpetuals has announced a doctoral research group with the European Institute of Management focused on AI in financial markets. The company said the initiative gives researchers access to proprietary behavioral trading datasets and live venue data. The stated research topics include behavioral finance, trader performance classification, market microstructure, and model risk.
This research focus supports the company’s public positioning around AI trading models and market data. The company’s releases describe BayesShield AI as relying on machine learning, trading activity analysis, and market pattern recognition. These descriptions are important because they explain why Perpetuals links its consumer product, its AI system, and its regulated venue technology under one fintech strategy.
Public Company and Filing Profile
As a foreign issuer security, PDC’s SEC record includes Form 6-K reports and annual reports on Form 20-F. Recent 6-K filings cover shareholder meeting results, approval of financial statements, reduction of stated capital, litigation settlement disclosure, operating and financial results, material agreements, governance matters, and capital-structure matters. These filings are especially relevant for investors following a foreign issuer because 6-K reports often carry event-driven disclosures that U.S. domestic issuers might report on other forms.
Perpetuals.com Ltd’s public profile is therefore best understood as a fintech and market-infrastructure company with several documented components: UpsideOnly as a consumer trading and prediction product, BayesShield AI as the proprietary AI system behind trading signal analysis, PM MTF Ltd as the EU-licensed venue using Perpetuals technology, and blockchain or tokenized-asset capabilities tied to the company’s history and disclosures.
Stock Performance
Perpetuals.com (PDC) closed at $2.54 on November 9, 2026. Over the past 12 months, the price has lost 34.9%.
PDC Metrics & Rankings
Price returns through November 9, 2026. Month and year figures include the first trading day. Ranking links may use different dates.
Latest News
Perpetuals.com has 10 recent news articles. Of the recent coverage, 5 articles coincided with positive price movement and 5 with negative movement. Key topics include partnership, crypto, conferences, AI. View all PDC news →
SEC Filings
Perpetuals.com has filed 10 recent SEC filings, including 6 Form 6-K, 2 Form SCHEDULE 13G/A, 1 Form 20-F/A, 1 Form 20-F. The most recent filing was submitted on . SEC filings provide transparency into a company's financial condition, material events, and regulatory compliance. View all PDC SEC filings →
Financial Highlights
Perpetuals.com generated $1.6M in revenue in FY2026, retaining a 59.5% gross margin, operating income reached -$17.6M, and net income was -$17.5M. Diluted earnings per share stood at -$1.00. The company generated -$4.1M in operating cash flow. The current ratio was 0.12, measuring current assets divided by current liabilities.
Upcoming Events
Short Interest History
Short interest in Perpetuals.com (PDC) currently stands at 7.0 thousand shares, up 3.5% from the previous reporting period, representing 0.1% of the float. Since January 2026, short interest has decreased by 82.7%.
Days to Cover History
Days to cover for Perpetuals.com (PDC) currently stands at 1.0 days. The ratio is the reported short interest divided by the average daily trading volume. Across the settlements charted above, it has ranged from 1.0 to 2.3 days.
PDC Company Profile & Sector Positioning
Perpetuals.com (PDC) operates in the Software - Application industry within the broader Technology sector and is listed on the NASDAQ.
Investors comparing PDC often look at related companies in the same sector, including Aware Inc (AWRE), NextPlat Corp (NXPL), Sagtec Global Limited (SAGT), Future FinTech Group Inc. (FTFT), and Aether Holdings, Inc. (ATHR). Comparing financial metrics, valuation ratios, and stock performance across these peers can help investors evaluate PDC's relative position within its industry.