SOL Treasury Upexi Board Approves $50 Million Stock Repurchase Plan

Techub News: According to The Block, Upexi, a publicly traded Solana treasury company, has received board approval for a $50 million stock repurchase program. This aims to enhance the company's flexibility in purchasing its common stock in the open market, with specific execution depending on market conditions and other factors.

Upexi reported total revenue of $9.2 million for the latest quarter, up from $4.4 million in the same period last year. Net income was $66.7 million, compared to a net loss of $1.6 million in the prior year period. The company initiated its SOL acquisition strategy in April this year and currently holds over 2.1 million SOL.