What's Going On With TryHard Holdings Stock Thursday?

TryHard Holdings Limited (NASDAQ:THH) stock fell Thursday following news of a significant partnership. The stock’s decline comes as the company announced it has entered into a Memorandum of Cooperation with STAR PARTY HK LIMITED to explore the establishment of a joint venture in Japan, potentially affecting investor sentiment. THH and STAR PARTY Plan Joint Venture Under the MoC, TryHard and STAR PARTY HK LIMITED plan to create a joint venture to develop the “Star Party” entertainment brand in Japan, with a registered capital of 90 million Japanese yen. TryHard will contribute 7.5 million Chinese yuan in cash, holding 35% of the joint venture, while STAR PARTY will contribute the same amount, retaining 65% equity. The joint venture aims to enhance the strategic positioning of the “Star Party” brand by developing entertainment venues across Japan and leveraging the strengths of both parties in management and resources. This initiative reflects a commitment to collaborative growth, although the MoC is non-binding and subject to further negotiations and approvals. Recently, TryHard entered into an Equity Purchase Agreement with Summer Explorer Investments, granting the company the option to sell up to $25 million of Class A shares over a 12-month period. TryHard will issue 17,000 commitment shares as consideration and also sign a Registration Rights Agreement to file a Form F-1 registering the resale of the commitment and any issued shares, subject to customary conditions. THH Shows Strong Short-Term Momentum The stock is currently trading 31.0% above its 20-day simple moving average (SMA) and 83.0% above its 50-day SMA, reflecting strong short-term momentum. Shares have increased 431.56% over the past 12 months and are currently positioned closer to their 52-week highs than lows. The RSI is at 56.68, which is considered neutral territory, indicating that the stock is neither overbought nor oversold. Meanwhile, MACD is above its signal line, suggesting bullish momentum for the stock. The combination of neutral RSI and bullish MACD suggests mixed momentum. Key Resistance: $30.00 Key Support: $25.00 Benzinga Edge Ranks THH as ‘High-Flyer’ Below is the Benzinga Edge scorecard for TryHard Holdings Limited Ordinary Shares (THH), highlighting its strengths and weaknesses compared to the broader market: Value: Weak (Score: 0.84/100) — Trading at a steep premium relative to peers. The Verdict: TryHard Holdings Limited Ordinary Shares’ Benzinga Edge signal reveals a classic ‘High-Flyer’ setup. While the low Value score warns that the stock is priced for perfection, the strong momentum indicates potential for continued upward movement. THH Price Action: Tryhard Holdings shares were down 12.50% at $28.00 during premarket trading on Thursday, according to Benzinga Pro data. Image via Shutterstock