Upexi Stock Tanks 60% After Solana Treasury Buy of 45,733 SOL
- Market Structure
- Culture
Upexi, a company with a Solana treasury, saw its stock plummet 60% after issuing 43 million new shares, diluting investors. On the same day, they bought 45,733 SOL tokens as part of their crypto strategy, which CT mocked as a desperate pivot. The move fueled heated X threads about corporate crypto treasuries and shareholder value destruction.