Canadian company Sol Strategies, focused on the Solana ecosystem, has filed for a Nasdaq listing, which has already led to a rise in its stock price.
Listing Application
Sol Strategies has submitted the necessary documents to the U.S. Securities and Exchange Commission (SEC) for a listing on Nasdaq. The filing of Form 40-F indicates that the company plans to trade under the ticker STKE.
Stock Performance
After filing with the SEC, Sol Strategies' stock surged by 4.39% during the trading session, reaching a peak of CAD 2.42 ($1.76) and closing at CAD 2.38 ($1.73). Despite this recent increase, the stock is down 17% year-to-date and has declined 61% from the 6.1 CAD high set on January 22.
Solana Reserve Strategy
The company is actively acquiring Solana (SOL) tokens to boost its treasury. As of June 2, it held over 420,000 SOL, valued at $61.32 million. Sol Strategies also filed a prospectus with Canadian regulators, potentially issuing up to $1 billion in stock for further investment in Solana.
The important steps taken by Sol Strategies towards listing on Nasdaq and its strategy for increasing Solana token reserves highlight its ambitions in the cryptocurrency market.
