Aug. 18 at 7:52 AM
$MEHA $MEHA — The Story I Believe Shareholders Need to Understand
On November 5, 2025, Functional Brands (
$MEHA) went public through a direct listing on Nasdaq, with the shares priced at approximately
$8.00, implying a valuation of roughly
$128 million based on approximately 16 million shares outstanding at the time.
This was not a random OTC company appearing out of nowhere.
The company went through the Nasdaq listing process, financial and legal review, and the normal infrastructure surrounding a public listing.
Yet within the first few trading days, the stock collapsed below
$1.
Why?
The explanation given by the market was largely that existing shareholders began selling after the listing.
But what happened afterward is what concerns me. To be continued