A Sports Company Is Venturing Into Crypto and Its Stock Is Surging
The move: Brera Holdings stock has surged more than 450% in recent days. From its closing price on Wednesday of $7.65 per share to Friday’s high of $43.14, the stock spike as much 464% before paring gains.
Why: Brera, known mostly for investing in soccer clubs throughout Europe, is the latest company to join the crypto treasury craze. On September 18, it announced plans to transition to a digital asset treasury and would rebrand itself to Solmate, a nod to the solana token it intends to hold on its balance sheet.
“Solmate is well-positioned as Solana adoption accelerates across institutional markets, DeFi, NFTs and AI,” incoming Solmate CEO Marco Santori stated.
This transition is funded by a private…
