According to Bijié Wǎng, Upexi (NASDAQ: UPXI) has approved a $50 million open-market stock repurchase program to stabilize its share price and signal long-term confidence in its Solana-focused strategy. The move comes after UPXI’s stock has fallen over 50% since early October and nearly 90% from its April peak. The company, which holds approximately $319 million in SOL, reported a net profit of $66.7 million in the latest quarter, driven largely by unrealized gains on its crypto holdings. CEO Alan Marshall emphasized that repurchases will only occur when they offer meaningful capital returns and do not hinder strategic growth or financial stability. The buyback aligns with broader trends in the Digital Asset Token (DAT) industry, where companies are increasingly using capital management tools to address undervalued stock prices. However, Galaxy Research has warned that large-scale buybacks and redemptions could exacerbate market volatility, especially if confidence wanes.
Upexi Announces $50M Stock Buyback Amid Solana Market Volatility
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