Development DeFi 7-1 Stock Split Approved: Strengthening SOL Strategy
A report dated May 8 states that the board of directors of DeFi Development Corp. (NASDAQ: DFDV), a company that has refocused on Solana, has approved a 7-for-1 stock split. The number of outstanding shares will increase from approximately 2 million to 14 million shares, distributed proportionally on May 19, with trading expected to begin at the new price on May 20.
This move aims to improve liquidity and expand the investor base. This could attract attention from investors, leading to increased positive market volatility.
Recently, the company also purchased 82,404 SOLs, bringing the total holdings to 400,000. This buying move demonstrates the company's confidence in Solana's long-term potential in the cryptocurrency ecosystem.