Treasure Global (TGL) Skyrockets After 1-for-20 Reverse Split: What December 5’s Wild Rally Means for Investors

Treasure Global Inc. (NASDAQ: TGL) delivered one of the most eye-catching moves on Wall Street on Friday, December 5, 2025, as its shares exploded higher after a 1-for-20 reverse stock split took effect. The company is racing to regain Nasdaq compliance, promote an ambitious 500%+ revenue growth story for 2026, and monetize a new $150 million OXI Wallet ecosystem—all while battling a history of steep losses and delisting risk. ^[1]

Key Takeaways

Reverse split catalyst: TGL executed a 1-for-20 reverse stock split effective December 5, 2025, to lift its share price above Nasdaq’s $1 minimum bid requirement and avoid delisting. ^[2]
Violent price reaction: Following the split, TGL stock surged well over 150–200% intraday, with prices spiking from single-digit levels to the high-$20s amid heavy volume and speculative trading. ^[3]
Delisting overhang remains: The company has already faced Nasdaq delisting pressure after failing the bid-price rule, making sustained trading above $1 crucial in the coming weeks. ^[4]
Growth narrative for 2026: Management is marketing a 500%+ revenue growth target by 2026 driven by its OXI Wallet fintech platform, an RWA tokenization partnership with UNIRWA, and the Quarters Elite acquisition, which Treasure Global says unlocks up to $150 million in long-term revenue opportunity. ^[5]
Mixed forecasts & high risk: Algorithmic models and AI-driven rating tools are split on the outlook, with some predicting short-term downside and others modeling large multi-year upside. Several systems currently flag TGL as a “Sell” or high-risk speculative play. ^[6]

What Happened to Treasure Global Stock on December 5, 2025?

The market fireworks started when Treasure Global’s 1-for-20 reverse stock split became effective at the open on Friday, December 5, 2025. Under the split:

Every 20 existing common shares were consolidated into 1 new share
The number of shares outstanding dropped to roughly 848,000
Each shareholder’s percentage ownership stayed the same, but the price per share was multiplied by 20, adjusted for market moves ^[7]

With the split in place, TGL stock went into overdrive:

Intraday, shares spiked by around 160–200%, according to multiple market commentary pieces, with traders citing aggressive buying and possible short covering. ^[8]
Data from market trackers showed huge percentage gains versus the pre-split closing price, with TGL briefly trading from single-digit dollars into the high-$20s, amid multi-million-share volume. ^[9]
The stock’s 52-week range, which previously sat deep in “penny stock” territory, suddenly included post-split highs near $30, reflecting just how extreme the move was. ^[10]

Commentary from platforms such as Stocktwits and AInvest described the session as a “rocket” move tied not only to the reverse split but also to renewed enthusiasm about the company’s fintech and digital asset roadmap. ^[11]

Why Treasure Global Enacted a 1-for-20 Reverse Stock Split

Treasure Global’s reverse stock split is not just cosmetic—it is a direct response to Nasdaq’s listing rules.

Nasdaq bid-price problem

Nasdaq requires companies to maintain a minimum bid price of $1 per share. TGL’s stock had traded well below that threshold for an extended period, triggering a deficiency notice and raising the risk of forced delisting to the over-the-counter (OTC) market. ^[12]

To address this, shareholders approved a proposal on November 24, 2025, authorizing the board to enact a reverse split in a range between 1-for-2 and 1-for-20. The board opted for the maximum ratio of 1-for-20, and filed the necessary amendments in Delaware, with Nasdaq confirming the split would be effective December 5, 2025. ^[13]

What the split actually does

A reverse split:

Does not change the total value of the company on its own
Reduces the number of shares while increasing the price per share proportionally
Can help regain compliance if the post-split price holds above $1 for a required period (often 10 consecutive trading days)

However, reverse splits also carry negative signaling risk. They often highlight that a stock has fallen so far that management needs to artificially boost its price to remain listed—something sophisticated investors are acutely aware of.

A Volatile Rally on Top of Weak 2025 Fundamentals

Despite the December 5 rally, Treasure Global’s fundamental track record in 2025 is challenging.

Sharp revenue decline and widening losses

According to compiled financial data, in 2025:

Revenue dropped to roughly $2.3 million, a steep 89% decline from the prior year’s more than $22 million
Net losses widened to about $23 million, up over 250% year-over-year ^[14]

These figures underline one of the key concerns around TGL: the growth story is mostly forward-looking, while the historical numbers show contraction and heavy cash burn.

Delisting risk still lingers

In parallel, coverage from financial media has highlighted how Treasure Global “faces Nasdaq delisting” due to its prior failure to maintain the required bid price, even with the reverse split plan in motion. ^[15]

The reverse split buys time, but it does not guarantee long-term compliance:

If the stock falls back toward penny-stock levels, Nasdaq could once again flag the company
Additional corporate actions—like further capital raises or even another reverse split in the future—cannot be ruled out in a worst-case scenario

In other words, the December 5 spike may be more about technical mechanics and speculation than a reflection of an already-transformed business.

Treasure Global’s 2026 Story: OXI Wallet, UNIRWA & Quarters Elite

While 2025’s numbers are ugly, management is leaning heavily into a future-focused fintech and digital asset narrative.

Quarters Elite acquisition and the $150M opportunity

On November 20, 2025, Treasure Global announced it had acquired Quarters Elite Advisory Sdn Bhd, a Malaysian financial advisory firm: ^[16]

Quarters Elite manages around $150 million in client assets
It operates with 350+ professional advisors serving nearly 3,000 clients
Treasure Global estimates the acquisition creates a $150 million long-term revenue opportunity, as the advisor network is integrated into its fintech ecosystem

Quarters Elite will act as the marketing and distribution arm for OXI Wallet, giving Treasure Global a relationship-driven, offline-plus-online channel to onboard users and increase assets under management more cheaply than pure digital marketing. ^[17]

OXI Wallet and UNIRWA tokenization partnership

In a separate set of announcements, Treasure Global framed 2026 as a “breakout year” powered by: ^[18]

OXI Wallet – a planned digital financial platform targeting launch in the first half of 2026, aimed at supporting payments, assets, and digital wealth tools
A real-world asset (RWA) tokenization partnership with UNIRWA, intended to bring tokenized assets into the ecosystem
The Quarters Elite advisor network, designed to drive adoption of OXI Wallet and related digital products

The company has gone as far as projecting “over 500% revenue growth by 2026”, albeit from a very low base—approximately $182,527 in revenue in a recent quarter, according to some coverage. ^[19]

In short, Treasure Global is pitching a high-growth fintech and digital asset ecosystem layered on top of its Southeast Asia presence. Whether that story can translate from press releases to audited results remains the open question.

Fresh TGL Stock Forecasts and Analyses After the Split

Following the reverse split and Quarters Elite acquisition, model-driven platforms and AI tools have updated their views on TGL—with widely diverging conclusions.

Short-term price predictions: cautious to bearish

One algorithmic forecast service projects that Treasure Global’s stock price could decline modestly (around -1–2%) into early January 2026 and drop by roughly 60% over the next 12 months, and explicitly labels TGL as “not a good stock to buy” at current levels. ^[20]
Another pattern-recognition model, updated around the start of December, expects about a +25% move over the next month, based on the similarity of TGL’s trading pattern to another small-cap stock. ^[21]

These opposing calls underline how fragile and model-dependent any near-term forecast is for a micro-cap that has just gone through a major corporate action.

AI-based stock rating systems: labeled “Sell”

At least one AI-driven stock rating platform assigns TGL an AI Score of 2/10, effectively marking it as a “Sell” because its probability of beating the S&P 500 over the next three months is meaningfully below average. ^[22]

That rating reflects:

Weak historical performance
Elevated volatility
Uncertain ability to execute on its ambitious fintech plans

Long-term scenario modeling: huge theoretical upside, massive risk

Some long-horizon forecasting sites go in the opposite direction, generating ultra-bullish best-case scenarios where TGL could rise many hundreds of percent by the 2030s and beyond. These often assume: ^[23]

Successful scaling of OXI Wallet
Strong profitability from digital asset initiatives
No major dilution or regulatory setbacks

However, such models are highly speculative and typically do not factor in financing risk, execution challenges, or macro shocks in a realistic way. For a micro-cap stock like TGL, investors should treat these long-term projections as illustrative scenarios, not probabilities.

Key Risks Investors Should Watch After December 5

For anyone considering TGL after the December 5 surge, the risk section is just as important as the upside story.

1. Nasdaq compliance risk

TGL must maintain its post-split share price above Nasdaq’s $1 minimum for a prescribed number of trading days
If the price falls back toward pre-split levels, TGL could once again face delisting pressure, forcing management to consider further corporate actions or alternative listings ^[24]

2. Dilution and funding needs

Given the company’s negative margins and deep losses, future equity raises or convertible financing cannot be ruled out. Such actions could dilute existing shareholders, particularly in a volatile micro-cap context. ^[25]

3. Execution on OXI Wallet and digital asset plans

The entire 2026 growth story hinges on:

Successfully launching and scaling OXI Wallet
Converting Quarters Elite’s 350+ advisors and 3,000 clients into active users of the OXI ecosystem
Navigating the complex regulatory environment around digital assets and tokenization ^[26]

Failure in any of these areas could derail the revenue projections that are now heavily featured in the company’s messaging.

4. Extreme volatility and low float

With only hundreds of thousands of shares outstanding after the split, TGL now has a very low free float, which magnifies: ^[27]

Intraday price swings
Sensitivity to social-media-driven flows
The potential for short squeezes—and equally violent reversals

This makes TGL far more suited to high-risk, short-term traders than to conservative long-term portfolios.

What December 5, 2025 Really Means for TGL Stock

From December 5, 2025 onward, Treasure Global’s story is entering a new phase:

The reverse split has temporarily solved the optics problem of a sub-$1 stock and bought time on Nasdaq.
The price explosion has put TGL back on the radar of traders and speculators, but it doesn’t erase the steep revenue collapse and large losses recorded in 2025. ^[28]
Management is now firmly tying the company’s future to fintech, digital assets, Quarters Elite’s advisor network, and OXI Wallet, projecting 500%+ revenue growth by 2026—a bold figure that will demand tangible operational execution to maintain investor confidence. ^[29]

For investors, the message is clear:

TGL is now a high-beta, event-driven micro-cap where small pieces of news can trigger outsized price moves
Forecasts and AI ratings currently lean cautious to negative, even as scenario-based models show large theoretical upside
The next key milestones to watch include:
- Evidence of OXI Wallet rollout and user adoption
- Concrete revenue contribution from Quarters Elite and UNIRWA-linked initiatives
- Confirmation that TGL maintains Nasdaq bid-price compliance without further drastic measures

Bottom Line

Treasure Global’s December 5, 2025 surge is a dramatic chapter in a much longer story: a small, loss-making fintech hopeful trying to stay listed, re-brand itself as a next-generation digital asset platform, and convince the market that its $150 million OXI ecosystem and 500%+ growth target are achievable.

For now, TGL stock sits at the intersection of hype, hope, and hard math. Anyone considering a position should treat it as a speculative trade, do their own research, and consider seeking professional financial advice before making investment decisions.