$Eyenovia(EYEN)$ 【Principal business fails, continues to gamble on crypto to survive, is Eyenovia going off the rails?】

Failing to make eye medicine, they simply decide to “buy coins to sustain life” — this is not a joke, it’s a real story from Nasdaq.

Eyenovia suddenly announced: raising 50 million USD, going all-in on Hyperliquid (HYPE) tokens, and even planning to rename to “Hyperion DeFi”. This company was originally in ophthalmic devices, but after last year’s drug failure and halving their staff, they now transform into a “blockchain validation node”. Once the announcement was made, the stock soared over 130%, but a few hours later it plummeted, and before yesterday’s market open, it dropped another 10%, the hype didn’t last 24 hours before turning against itself.

What’s even more surreal is that this money wasn’t earned, but raised through convertible bonds + warrants — in other words, existing shareholders were clearly diluted, all to gamble on a bunch of virtual tokens. The “lifted” HYPE itself fell 6% on the same day.

Biotech companies that don’t focus on R&D but chase crypto hot money, isn’t this story a bit familiar? MicroStrategy has taken Bitcoin to new heights, but now many fringe companies can’t grasp the essence, only the superficial excitement.

#hype