Since Solmate transformed into a Solana treasury company, its stock price has plummeted by over 98%

According to Cryptobriefing, Nasdaq-listed company Solmate (formerly Brera Holdings) has seen its stock price plummet over 98% since completing a $300 million financing to transform into a Solana treasury company. The company has previously received investments from institutions such as ARK Invest, Pulsar Group, RockawayX, and Solana Foundation, and currently holds approximately 2 million SOL, but SOL has dropped about 50% in the past year, making the company's financial situation highly dependent on SOL's price and liquidity.

Earlier reports indicated that Solmate's largest shareholder has sued the board of directors, accusing them of information disclosure violations and self-dealing.