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ARK Invest-backed Solmate has seen its stock price plunge over 98% since its transformation into a Solana treasury company.

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ME News update: On June 26 (UTC+8), Solmate (formerly Brera Holdings), a Nasdaq-listed company, has seen its stock price plummet over 98% since completing a $300 million fundraising to transform into a Solana treasury company. The company had previously received investments from institutions including ARK Invest, Pulsar Group, RockawayX, and the Solana Foundation, and currently holds approximately 2 million SOL. However, SOL has fallen about 50% over the past year, making the company's financial condition highly dependent on the price and liquidity of SOL. Earlier, on June 23, Solmate's largest shareholder sued the board of directors, accusing it of information disclosure violations and self-dealing. (Source: PANews)
SOL8.28%
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