QMMM Stock Soars 2,300% on $100M Crypto Treasury Pivot
Shares of Hong Kong–primarily based media firm QMMM Holdings (QMMM) surged as a lot as 2,300% on Tuesday earlier than closing 1,737% increased at $207 on Nasdaq. The rally adopted the corporate’s announcement of a $100 million digital asset treasury anchored by Bitcoin, Ethereum, and Solana.
The extraordinary inventory transfer underscored retail-driven momentum and hypothesis, although volatility shortly reappeared. Its shares dropped practically 50% in after-hours buying and selling to round $105.
QMMM Crypto Treasury Anchored by Bitcoin, Ethereum, and Solana
QMMM Holdings is a Hong Kong–primarily based and Nasdaq-listed digital promoting and media agency now pivoting to blockchain and AI. As introduced on Tuesday, the corporate confirmed it is going to construct a diversified $100 million digital asset treasury throughout Bitcoin, Ethereum, and Solana.
Bitcoin would be the cornerstone of its resilience and market credibility. Ethereum’s sensible contract structure is anticipated to energy AI-driven brokers and decentralized functions, whereas Solana’s velocity and scalability will assist real-time analytics, metaverse interactions, and Web3 infrastructure.
The firm’s January SEC submitting confirmed solely $497,993 in money and a internet lack of $1.58 million for fiscal 2024, leaving questions over how QMMM will finance its crypto accumulation. No additional funding particulars have been disclosed, and representatives didn’t reply to requests for clarification.
From Digital Media to Web3 Autonomous Ecosystem
Previously a digital promoting enterprise, QMMM has recast itself as a blockchain-native agency. It introduced plans for a decentralized knowledge market that makes use of AI-driven analytics to assist traders, builders, and creators. The firm goals to supply DAO treasury administration instruments, sensible contract vulnerability detection, and metaverse enhancements.
“Our cryptocurrency initiatives, mixed with our experience in AI and digital platforms, are designed to create sustainable worth for our stakeholders whereas reinforcing our position as a forward-looking know-how firm,” CEO Bun Kwai mentioned in a press release.
Mr. Bun Kwai, founding father of QMMM, turned CEO and Chairman in June 2023 after years of main subsidiaries. He holds a bachelor’s diploma in digital graphic communication from Hong Kong Baptist University.
Analysts, Including Benzinga, Call It “Narrative-Driven Upside”
QMMM’s explosive surge outpaced strikes throughout the sector, diverging from Canadian peer Sol Strategies, which fell 42% in its Nasdaq debut the identical day.
Analysts famous the speculative nature of QMMM’s valuation leap, with Benzinga reporting one description as “narrative-driven upside” tied to crypto adoption slightly than fundamentals.
Despite the preliminary enthusiasm, shares retraced closely in after-hours buying and selling, reflecting broader investor warning. With minimal institutional protection and restricted monetary transparency, QMMM stays a high-risk play. Its pivot alerts ambition to guide in Web3, however execution dangers and funding challenges depart its long-term trajectory unsure.
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