Crypto bets send QMMM up 1,700%, Sol Strategies down 42% on Nasdaq
The split underscores uneven price performance among publicly traded companies betting on digital asset treasuries.
Shares of crypto-linked companies diverged sharply on Tuesday, with Hong Kong’s QMMM Holdings rocketing more than 1,700% after unveiling a blockchain strategy, while Canada’s Sol Strategies tumbled 42% in its Nasdaq debut.
QMMM, a Hong Kong–based investment holding company, said Tuesday it will integrate artificial intelligence with blockchain to build a platform combining crypto analytics and a Web3 autonomous ecosystem. The firm also plans to establish a “diversified cryptocurrency treasury” focused on Bitcoin (BTC), Ether (ETH) and Solana (SOL).
QMMM’s stock performance shot through the roof after the announcement, rising over 2,100% before closing its Nasdaq trading up 1,737%.