Sharps Technology shares fell to a record low after the company filed its first quarterly financial report.
Sharps Technology, after adopting a Solana-centered digital asset reserve strategy, released its quarterly financial report for the first time. The data shows that its core medical device business revenue is negligible, while the company holds nearly 2 million SOL tokens. This Nasdaq-listed company disclosed in regulatory filings that as of September 30, the fair value of its digital asset portfolio was 404 million USD, but this data reflects the price level at the end of the quarter. However, based on the current SOL price of about 138 USD, the company's holdings have significantly shrunk in value to 275 million USD.
The company's stock price fell to a historic low this week, having declined for several consecutive months since reaching a high of 16 USD at the end of August. According to Google Finance data, the stock price was already below 2.90 USD on Monday morning, with a market value significantly lower than the current implied value of its Solana holdings.
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