$Eyenovia(EYEN)$ 【Main business failing, is Eyenovia going crazy with cryptocurrency?】
Since they can't make eye medicine, they might as well “buy cryptocurrency to survive” — this is not a joke, it's a real thing on Nasdaq.
Eyenovia suddenly announced: raising $50 million, betting everything on Hyperliquid (HYPE) tokens, and even planning to rename themselves to “Hyperion DeFi”. This company originally focused on ophthalmic devices, but after a new drug failure and laying off half of its staff last year, it has now transformed into a “blockchain validation node”. Once the announcement was made, the stock price surged over 130%, but just a few hours later it plummeted, and yesterday it dropped another 10% before the market opened. The excitement didn’t last 24 hours before it reverted to its original state.
Even more surreal, this money wasn't earned; it came from convertible bonds + stock purchase warrants — in other words, the old shareholders were clearly diluted just so the company could gamble on a bunch of virtual tokens. Meanwhile, the “hyped-up” HYPE itself also fell by 6% that day.
Isn’t it a bit familiar that a biotech company, instead of focusing on research and development, is eyeing the hot money in crypto? MicroStrategy has taken Bitcoin to new heights, and now a bunch of fringe companies are unable to grasp the essence, only learning the superficial hustle.
