China smartphone shipments slumped in June on inventory overhang: Jefferies
TAMPA, Fla. - Upexi, Inc. (NASDAQ: UPXI), a consumer products company that has recently branched into the cryptocurrency sector, announced today that options on its common stock have been approved for trading on the Nasdaq Options Market. The options, bearing the ticker symbol UPXI, will offer a variety of expiration dates and strike prices for investors. The announcement comes as the company’s stock shows remarkable momentum, with InvestingPro data revealing a 121.5% return over the past six months and a market capitalization of $418 million.
Allan Marshall, CEO of Upexi, remarked on the significance of this development, stating that the availability of options trading for UPXI shares signifies the company’s growing presence and liquidity in the public market. According to Marshall, this move will provide investors with more avenues to engage with Upexi’s stock as the company advances its growth strategy. The company maintains impressive gross profit margins of 54.5%, though InvestingPro analysis indicates current short-term obligations exceed liquid assets, with a current ratio of 0.37.
The trading of UPXI options is expected to attract broader investor participation by offering additional instruments for risk management and investment in Upexi’s performance and potential growth. These options can be accessed via major brokerage platforms and trading networks that facilitate equity options trading on the Nasdaq exchange. With a beta of -0.27, InvestingPro data shows the stock often moves independently of broader market trends, making it an interesting consideration for portfolio diversification. Discover 12 additional exclusive ProTips and comprehensive analysis in the Pro Research Report.
Upexi’s entry into the cryptocurrency space includes the management of assets through a Cryptocurrency Portfolio, complementing its core business of developing, manufacturing, and distributing consumer products.
The news release also contains forward-looking statements regarding the company’s expectations for the use of proceeds and future developments. It is important for investors to note that these statements are based on current beliefs and expectations and that actual results could vary for a variety of reasons.
This announcement is based on a press release statement from Upexi. Investors are advised to consider all available information and to also review the risk factors disclosed in Upexi’s filings with the Securities and Exchange Commission, which include annual and periodic reports.
In other recent news, Upexi Inc. has made significant strides in its cryptocurrency ventures, with notable developments in its Solana (SOL) holdings and strategic partnerships. The company has expanded its Solana holdings by acquiring an additional 77,879 SOL tokens for $11.8 million, increasing its total holdings to 679,677 SOL, valued at approximately $121.2 million. This purchase represents a 17.7% gain for the company’s investors, with a strategic focus on holding discounted locked tokens. Upexi has also partnered with GMI Digital to enhance its engagement with crypto-native audiences, aiming to refine its digital presence and brand identity.
Further expanding its digital asset management, Upexi has formed a strategic partnership with BitGo for custodial and over-the-counter trading services. This collaboration is intended to secure Upexi’s digital assets while enhancing risk management and shareholder value. Upexi’s recent $100 million private placement, led by GSR, highlights institutional support for its Solana-focused treasury strategy. The company’s strategic approach to Solana, based on its high performance and scalability, aims to position Upexi as a leader in blockchain integration within corporate finance. These developments underscore Upexi’s commitment to diversifying its treasury strategy and embracing decentralized finance.
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