Helius stock prices drop after announcing purchase of 168 million USD SOL

The stock price of Helius Medical Technologies (HSDT) has dropped over 16% after this healthcare company announced the purchase of 760,190 $SOL to begin building its Solana treasury. This purchase is valued at approximately 168 million USD, marking the first step in the company's plan to raise 500 million USD.

Mixed market reaction

Although this information initially helped Helius' stock price skyrocket by 141% last week, reaching a peak of 24.29 USD/share, it has since adjusted down to 20.19 USD. This decline reflects the volatility of the crypto market, with SOL prices also dropping nearly 7% in the past 24 hours, down to 221.19 USD.

Helius' investment strategy

#Helius currently still has 335 million USD in cash to continue adding to the Solana treasury. Joseph Chee, the CEO of Helius, stated that the company is committed to maximizing value for shareholders and is very willing to implement the proposed plan. Cosmo Jiang, a partner at Pantera Capital, commented that buying SOL at lower than recent market prices, while still retaining most of the capital for additional purchases when opportunities arise, indicates that Helius' team is managing capital responsibly.

Despite the short-term decline, the decision by a publicly listed company to build a Solana treasury shows the growing confidence of institutions in the potential of SOL as a strategic asset. #anhbacong