Historic low: Enlivex, holding RAIN tokens, sees stock price drop to $0.42

Nasdaq-listed company Enlivex saw its stock price hit an all-time low of $0.42 due to its holdings of RAIN tokens associated with the failed project of Moshe Hogeg. Enlivex transitioned from an arthritis biotechnology company to the "world's first prediction market digital asset treasury company" in November 2025. Through private placements, it raised over $200 million to invest in RAIN tokens. It currently holds approximately 78.8 billion RAIN tokens, with a nominal value of $1.2 billion, representing 12% of the circulating supply. However, the company's market capitalization is only $118 million.

Moshe Hogeg, an Israeli crypto entrepreneur, is facing a $290 million law enforcement investigation. On-chain investigator ZachXBT stated in May that the RAIN token "provided exit liquidity for insiders."