On March 11, Nasdaq-listed company Solmate (NASDAQ: SLMT, formerly Brera Holdings) saw its stock price plunge over 19% intraday. Previously, the company announced it would sell its underperforming football clubs in Mozambique and Mongolia and fully pivot to becoming a Solana infrastructure company headquartered in Abu Dhabi. This divestment triggered a sharp decline in the stock price. The proceeds from the sale will be used for its Solana business in the UAE. Ark Invest recently reduced its stake in the company, which has seen its stock price drop 52.5% so far this year.

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