Upexi Stock Pops Pre-Market, Retail Chatter Surges On Growing Solana Treasury Holdings

Upexi (UPXI) stock climbed more than 12% in pre-market trading on Friday, with retail chatter on Stocktwits also surging after the company announced that its Solana (SOL) treasury had grown to approximately $447 million as of Thursday.

Upexi's stock was among the top trending tickers on the platform at the time of writing. Retail sentiment rose to 'extremely bullish' from 'neutral' territory while chatter climbed to 'high' from 'normal' levels over the past day. Stocktwits data showed a 56% increase in message volume over the past 24 hours and more than 200% over the past week.

“The last several weeks were extremely strong for Upexi, highlighted by a substantial increase in the price of SOL,” CEO Allan Marshall said Thursday.“As a result, our Solana treasury now stands at $447 million, including an unrealized gain of $142 million.” The company also said it has appointed former BitMEX CEO Arthur Hayes to its newly established Advisory Committee. 

Solana's price rose more than 6% in early morning trade on Friday, fueling speculation on Stocktwits over how much further it could boost Upexi's holdings. Upexi currently holds just over two million SOL tokens, which would be valued at about $480 million at current prices. 

Some retail traders expressed optimism on the platform. One said Solana is likely to move even higher, benefiting Upexi. 

Recent comments from Galaxy Digital CEO Mike Novogratz and Bitwise CIO Matt Hougan indicate that 'Solana Season' may be underway. 

Another trader said they planned to add to their Upexi stake ahead of what could be further upside from Solana.

Upexi shares are up approximately 57% year-to-date and 39% over the past 12 months.

Read also: Bitcoin Underperforms As Solana Soars On Galaxy Buying Spree, Dogecoin Extends Gains

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