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Rigel Resource Acquisition Corp  (RRACU)
Other Ticker:  
 
    Sector  Financial    Industry Blank Checks
   Industry Blank Checks
   Sector  Financial
 
Price: $0.0000 $0.00 %
Day's High: 0.00 Week Perf:
Day's Low: $ 0.00 30 Day Perf:
Volume (M): 0 52 Wk High: $ 0.00
Volume (M$): $ 0 52 Wk Avg: $0.00
Open: $0.00 52 Wk Low: $0.00



 Market Capitalization (Millions $) -
 Shares Outstanding (Millions) 21
 Employees -
 Revenues (TTM) (Millions $) -
 Net Income (TTM) (Millions $) 10
 Cash Flow (TTM) (Millions $) 2
 Capital Exp. (TTM) (Millions $) 0

Rigel Resource Acquisition Corp
Rigel Resource Acquisition Corp is a special purpose acquisition company (SPAC) formed with the objective of merging, acquiring, reorganizing, or engaging in a similar business combination with one or more businesses. The company was established as a blank-check company to raise funds through an initial public offering (IPO) with the sole purpose of using the proceeds to acquire other companies. Rigel Resource Acquisition Corp seeks to identify potential targets in sectors such as energy, resources, and related industries.


   Company Address: 7 Bryant Park New York 10018 NY
   Company Phone Number: 453-2672   Stock Exchange / Ticker: NYSE RRACU
   RRACU is expected to report next financial results on March 23, 2024.


   

Stock Performances by Major Competitors

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Rigel Resource Acquisition Corp

RRACU Plunges as Corporate Behavior Takes a Nosedive in Q3 2023

Trailing behind the leading players in the Blank Checks sector, a group of relatively unknown corporations have recently reported their results. Among them is RRACU, who has just announced an operating shortfall of -$0.358944 million for the third quarter of 2023. This is a significant decline compared to the operating shortfall of -$0.297126 million reported in the same period the previous year.
Market observers are now speculating about the future prospects of RRACU. Will they be able to generate enough revenue to turn their financial situation around? While the company still faces significant challenges, there is a promising revelation within their recent report. The deficit has actually decreased to -$0.207 million from a staggering -$0.617 million in the third quarter of 2022. This improvement, if sustained, could greatly benefit RRACU and potentially pave the way for the company to establish itself as a leader in the financial sector.
Although RRACU still has a long way to go, this reduction in the deficit is a small but significant step towards achieving financial stability. It shows that the company is actively working towards improving its financial performance. Investors and market participants will closely watch RRACU's next move, as it will shed more light on the company's ability to navigate these challenging market conditions.

Rigel Resource Acquisition Corp

Rigel Resource Acquisition Corp Exceeds Expectations with Improved Q2 2023 Performance, Despite Operating Shortfall of $-0.285146 Million



As the April to June 30, 2023 reporting season progresses, numerous entities have announced their financial results, including several constituents of the Blank Checks sector. One such company, Rigel Resource Acquisition Corp (RRACU), recently reported an operating shortfall of $-0.285146 million for the second quarter of 2023. This outcome clearly indicates that the recent operating decisions have outperformed those made during the same period in the previous year.
Operating Performance:
Operating predominantly in the progress stage, RRACU's latest financial results hold significant importance in assessing the overall scenario. Unfortunately, the decline in net earnings has dampened prevailing morale. While the top-line figures are not visible yet, the net earnings remain the only real gauge for the company's performance. Due to various issues faced by RRACU, profitability has fallen by -42.65 basis points, from $5.721 to $3.281 million, in comparison to the same period a year ago.

Rigel Resource Acquisition Corp

Rigel Resource Acquisition Corp Faces Uphill Battle as Operating Shortfall Plummets in Q1 2023

The Blank Checks industry has been receiving significant attention lately due to the performance of bellwether companies, but the focus is gradually shifting to other lesser-known corporations, such as the Rigel Resource Acquisition Corp (RRACU). Recently, RRACU reported an operating shortfall of $-0.37289 million in the first quarter of 2023, which was a significant improvement compared to the previous year's earnings of $-0.403582 million.
Rigel Resource Acquisition Corp is still an emerging growth company, and developing revenue sources is critical for its future success. The company's ability to run cost-effectively is now more relevant than ever, as it strives to attain another chapter of growth. Unfortunately, the decline in net income now puts a downer on the company's prevailing attitude. While the top-line is not visible, the net income is seen as the most important indicator for the Blank Checks company's effort.
In the current reporting period, Rigel Resource Acquisition Corp's earnings have receded by -76.09%, from $5.374 to $1.285 million, due to multiple issues. This decline is a significant cause of concern for investors, and many are now questioning the company's long-term sustainability.






 




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