Solana Company has opened up PIPE investors to sell shares in advance, and the stock price has experienced a big dump of 60%.

PANews, October 21 news, according to CoinDesk, Solana Company (HSDT, formerly Helius), supported by Pantera, announced that it will allow its $500 million PIPE round investors to resell their shares ahead of schedule, stating that it will “ripping the band-aid.” The company had a private sale issuance at $6.881 per share in September, and the current stock price has fallen to about $6.50, a cumulative drop of about 60% over the past three days, with a further drop of 17% on Monday. The company stated that the early unlocking will clear out “weak hands” and solidify the foundation of long-term shareholders. Many digital asset treasury companies faced pressure on their stock prices when the PIPE took effect, and the sustainability of this model is being questioned.