Solana-Focused Upexi Approves $50M Share Buyback After 50% Stock Slide

Upexi (UPXI), a Nasdaq-listed firm focusing on Solana, has authorized a $50 million stock buyback program after its stock plummeted over 50% since early October, and nearly 90% from its highs in April. The board has granted the company the flexibility to repurchase shares on the open market, with the condition that the buyback will not hinder its growth investments or treasury strength. Upexi's stock drop aligns with a trend among digital asset treasury firms opting for buybacks as a response to declining stock prices and waning investor interest. Currently, Upexi holds approximately 2.1 million SOL, valued around $319 million. This decision reflects a broader strategy among digital asset companies to leverage buybacks when share prices fall below asset values, possibly adding shareholder value amidst challenging market conditions.

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