The stock prices of cryptocurrency-related companies showed a clear divergence on Tuesday. Hong Kong's QMMM Holdings saw its stock price soar over 1,700% after announcing its blockchain strategy, while Canada's Sol Strategies plummeted 42% on its first day of trading on Nasdaq.
According to QMMM on Tuesday, the Hong Kong-based investment holding company will combine artificial intelligence with blockchain to create a platform that integrates crypto analytics and a Web3 autonomous ecosystem. The company also plans to establish a diversified cryptocurrency treasury centered around Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
Following the announcement, QMMM's stock price surged significantly, at one point rising over 2,100% during the trading session. Ultimately, the stock closed up 1,737% on Nasdaq.
In stark contrast, the stock price of Canada's Sol Strategies, a Solana treasury and staking company, fell sharply. The company had just listed on Nasdaq and saw its stock price drop 42% on Tuesday. On the Canadian Securities Exchange, Sol Strategies performed slightly better but still fell 16%.
Sol Strategies CEO Leah Wald told Cointelegraph, "While stock prices can be volatile, our approach is centered around a model we call DAT++, and we always focus on creating long-term value through disciplined execution of our business strategy."
According to Sol Strategies, the company reported a net loss of $3.5 million for the second quarter in June. However, its node validation and staking revenues saw some growth. At the same time, the company sold a significant amount of its Bitcoin (BTC) holdings to acquire Solana (SOL) and Sui (SUI).
In the past month, publicly listed cryptocurrency companies, especially those relying on cryptocurrency treasuries, have shown mixed performance.
The stock price of Solana treasury company Upexi fell 2.1% over the past month, while another Solana treasury company, DeFi Development Corp., saw its stock price rise 13.2%.
Japanese Bitcoin treasury company Metaplanet's stock price dropped 37% in the past 30 days, despite the company continuing to buy Bitcoin and shareholders recently approving its strategy to accumulate cryptocurrency.
According to data from the past month, the first company to deploy a cryptocurrency strategy, Strategy, also experienced a decline, with its stock price falling 18%.
Related: The U.S. Congress requests the Treasury Department to report on the details of strategic Bitcoin (BTC) reserves.
Original article: “Epic Divergence in Nasdaq's Cryptocurrency Sector: QMMM Soars 1,700% Against Sol Strategies' 42% Plunge”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
