Solana Treasury News: Upexi (UPXI) Approves $50M Share Buyback After 50% Stock Slide
CoinDesk
Solana-focused digital asset treasury firm Upexi approved a $50 million share buyback following a significant drop in its stock price.Summary
Upexi (UPXI), a Nasdaq-listed digital asset treasury firm concentrating on Solana, announced that its board approved a share repurchase program of up to $50 million. This move aligns Upexi with other digital asset treasury companies (DATs) that are increasingly using buybacks as their stock prices have tumbled amid waning investor appetite for their assets. Upexi's stock has fallen over 50% since early October, and nearly 90% from its April high. CEO Allan Marshall stated the buybacks would be executed opportunistically without hindering growth investments or treasury strength. The company currently holds 2.1 million SOL, valued around $319 million, as crypto prices, including SOL, have recently declined.
(Source：CoinDesk)