Nasdaq-Listed DeFi Development Corp. Jumps 17% After $2.7M Solana Purchase

Key Points

1. DeFi Development Corp. purchased 17,760 SOL tokens at an average price of $153.10, bringing its total Solana holdings to 640,585 SOL, worth approximately $98 million.

2. The company's stock (DFDV) surged 17% following the announcement, closing at $23.80 and rising another 0.8% in after-hours trading to $24.

3. DeFi Development Corp. plans to raise $112.5 million through private placements, with $75.6 million allocated for a prepaid forward stock purchase agreement.

4. Despite the recent rally, the stock remains 33% below its May peak of $35.53, though it has skyrocketed over 2,700% year-to-date.

5. The company reported a 30% drop in net revenue and a 15.5% decline in net profit margin in its latest quarterly report compared to the same period last year.