Upexi Stock Price Surges 335% on Plan to Buy Solana Cryptocurrency
Upexi notched a triple-digit stock gain on Monday after announcing plans to accumulate millions worth of crypto.
The self-described brand owner, specializing in the “development, manufacturing, and distribution of consumer products,” has reached an investment agreement to help create a Solana token treasury.
The company’s stock rocketed by as much as 745% early in Monday’s session, before paring gains to close 335% higher at $9.89 a share.
In a Monday announcement, the Tampa-based firm disclosed a deal to raise $100 million to buy Solana tokens. The crypto trading and investment firm GSR was the lead investor, ahead of several crypto venture firms that participated in the deal.
“It’s encouraging to see…
