Upexi increases Solana holdings by 8% in June, expands initiatives

TAMPA, Fla. - Upexi, Inc. (NASDAQ:UPXI), a $121.45 million market cap company with impressive gross profit margins of 54.48%, reported an 8.2% increase in its Solana (SOL) holdings during June, bringing its treasury to 735,692 SOL valued at $113.8 million as of June 30, according to a monthly update released by the company Tuesday. According to InvestingPro, the stock has shown significant volatility, with 15+ key insights available for subscribers.

The consumer products brand owner, which has diversified into cryptocurrency, reported that its SOL holdings represent approximately 0.0192 SOL per common share, or $2.97 per share, based on 38.2 million shares outstanding. The company continues to stake substantially all of its SOL holdings, earning approximately 8% yield.

Upexi CEO Allan Marshall highlighted several key business initiatives launched in June, including the listing of options on Nasdaq, a partnership with Superstate to tokenize its equity, and joining Webull’s Corporate Connect Service platform to increase visibility among Webull’s 24 million registered users.

"June was a particularly active and successful month," Marshall said in the press release. "We are laser-focused on increasing Upexi’s visibility and raising capital in an accretive fashion for the benefit of shareholders." The company’s efforts appear to be gaining traction, with InvestingPro data showing a strong 12.8% return over the past week, though the stock remains down 58.19% over the past year. Get the full picture with InvestingPro’s comprehensive research report, available for 1,400+ US stocks.

The company noted that approximately 58% of its SOL portfolio consists of locked SOL purchased at what it described as a "mid-teens discount" to the spot price.

Upexi also reported that SOL entered June at $157 and finished the month nearly unchanged at $155, with a monthly low of $132 on June 22 and a high of $165 on June 10, based on daily closing prices.

The company participated in several investor events during June, including the iAccess Alpha Virtual Best Ideas Conference and the ICR Conference Spotlight Series, as well as appearances on multiple cryptocurrency-focused podcasts. With a beta of -0.55, Upexi’s stock typically moves counter to market trends, making it an interesting consideration for portfolio diversification.

In other recent news, Upexi Inc. has made significant strides in the cryptocurrency sector with multiple developments. The company expanded its Solana holdings by acquiring an additional 77,879 SOL tokens for $11.8 million, bringing its total to 679,677 SOL tokens, valued at approximately $121.2 million. This strategic move is part of Upexi’s broader effort to maximize shareholder value through discounted locked tokens. In another development, Upexi’s options have begun trading on the Nasdaq Options Market, which CEO Allan Marshall noted as a sign of the company’s growing market presence and liquidity.

Additionally, Upexi has partnered with GMI Digital to enhance its marketing efforts in the crypto space, focusing on a "Solana-first strategy." The collaboration aims to refine Upexi’s digital presence and brand identity. The company has also entered a strategic partnership with BitGo, utilizing its custodial and OTC trading services to manage its digital asset portfolio. This partnership aligns with Upexi’s strategy to diversify its treasury into digital assets and improve risk management. These recent developments reflect Upexi’s ongoing commitment to integrating cryptocurrency into its business strategy.

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