Upexi Inc. experienced a dramatic stock price collapse, plunging 61.2% to $3.85, triggered by a massive wave of investor selling.
The sharp decline occurred despite Upexi publicly disclosing holdings of 679,677 Solana (SOL) tokens and having previously secured $100 million in funding.
Investors registered to sell a substantial 43.85 million shares, a volume equivalent to the company’s entire initial public offering float.
This significant sell-off underscores the extreme volatility and liquidity pressures impacting companies associated with the digital asset sector, even those holding substantial cryptocurrency reserves.