Solana-Focused Upexi Approves $50M Share Buyback as Stock Prices Slide

Upexi (UPXI), a Nasdaq-listed firm focused on the Solana ecosystem, announced its board's approval for a $50 million stock repurchase program. This decision comes in light of the company's stock price dropping 50% in just a month and nearly 90% since April. The repurchase program allows Upexi to buy back its shares on the open market depending on market conditions. CEO Allan Marshall highlighted the plan's execution would be opportunistic, ensuring it does not hinder the company's growth investments or treasury strength. The move aligns with a trend among digital asset treasury firms that are engaging in share buybacks as market valuations of their holdings diminish. Currently, Upexi holds 2.1 million SOL, valued around $319 million, as the Solana price struggles to stay above $150, reflecting a decline of nearly 30% in a month.

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