Avalanche Treasury Corp. has fallen about 73% since its Nasdaq debut, leaving the newly listed AVAX treasury company trading near $0.50 after closing its first session at $1.85 on June 11. The company completed its business combination with Mountain Lake Acquisition Corp. on June 11, creating a Nasdaq-listed vehicle focused on Avalanche and AVAX exposure. Its strategy centers on accumulating AVAX, staking holdings and developing Avalanche-focused infrastructure.