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Shares of CleanCore Solutions Inc. (AMEX:ZONE) exploded in Monday's after-hours trading after the company acquired $68 million in Dogecoin (CRYPTO: DOGE) to boost its newly launched treasury strategy.
ZONE shares are climbing with conviction. See the trading setup here.
The stock soared 62.96% after-hours, extending its returns from a healthy regular trading session.
CleanCore, a firm that manufactures cleaning products, announced that it acquired 285.42 million DOGE tokens, worth roughly $68 million, as part of a Dogecoin Foundation-backed treasury strategy.
"With this acquisition, the Treasury has achieved the status of becoming the single largest DOGE digital asset treasury in just under a week," the company said.
The firm also announced its intention to buy up to 1 billion DOGE within the next 30 days. At the current price, this amounts to approximately $235 million.
See Also: Eightco Chair Dan Ives Calls Sam Altman’s World Project The ‘Intersection Of AI And Crypto,’ Compares It To Nvidia, Palantir
Earlier in the month, Elon Musk’s longtime lawyer Alex Spiro was named Chairman of the Board of Directors of CleanCore.
Meanwhile, DOGE jumped to a nearly one-month high late Monday evening, but then fell sharply as profit-taking ensued. The meme coin’s trading volume surged 50% in the last 24 hours.
Price Action: At the time of writing, DOGE was exchanging hands at $0.2357, up 1.14% in the last 24 hours, according to data from Benzinga Pro.
CleanCo shares popped 62.96% after-hours after closing 8.33% higher at $3.51 during Monday’s regular trading session. Year-to-date, the stock has surged by 172%.
As of this writing, the stock exhibited a very high Momentum score. Visit Benzinga Edge Stock Rankings to compare it with Strategy Inc. (NASDAQ:MSTR), the pioneer of cryptocurrency treasury play.
Photo Courtesy: Akif CUBUK on Shutterstock.com
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