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Insider Sale Fears Slam Upexi, Triggers Solana Treasury Stock Drop 62%
- Upexi stock plummeted 62% after fears of insider sales were triggered by a registration filing.
- Solana's treasury strategy faces scrutiny due to Upexi's significant stock price drop.
- The panic was caused by a filing that allowed private investors to sell their shares, although no sales were confirmed.
- The SEC filing enabled investors in Upexi's April PIPE deal to sell common shares or pre-funded warrants, totaling 43.9 million shares.
- Upexi's CEO clarified that the filing did not indicate immediate selling intentions but rather the possibility.
- Despite no confirmed sales, concerns arose that institutional holders might divest their holdings, leading to a sharp decline in stock prices.
- Upexi started accumulating Solana for a treasury strategy following a $100 million capital raise in April 2025.
- While Upexi's stock skyrocketed to $600 million post-fundraising and Solana acquisitions, it dropped to about $148 million after the recent fall.
- Cantor Fitzgerald set a $16 price target for Upexi, endorsing its Solana strategy over Ethereum for long-term growth potential.
- The investment bank considers Solana favored by corporate treasuries due to its speed and low fees, offering a viable alternative to Ethereum.
- Janover Inc., a real estate tech company, also ventured into the Solana space by purchasing 80,567 SOL worth $10.5 million.
- Janover Inc. aims to bolster their digital cash strategy through Solana investments.
- Investment analysts hold a positive outlook on Solana-based treasuries, anticipating better performance compared to Ethereum.
- Solana's appeal lies in its efficient network capabilities and potential for long-term growth in the digital asset landscape.
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