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Brera Holdings PLC (NASDAQ:BREA) shares retraced in Thursday's after-hours trading after rallying by triple digits during the regular session.
BREA shares are testing new highs. Track the latest developments here.
The stock fell 11.05% after-hours, a slight pullback from the threefold surge earlier in the day.
Brera Holdings shares jumped to an intraday high of $52.95, representing a 592% increase from the previous day’s closing.
The rally comes after the Ireland-based company rebranded to Solmate, a Solana (CRYPTO: SOL)-focused cryptocurrency treasury company, following an oversubscribed $300 million private investment in public equity offering.
Cathie Wood-led Ark Invest backed the offering and scooped up 6,500,001 shares of the company, worth $161.85 million, through its ARK Innovation ETF (BATS:ARKK), Ark Fintech Innovation ETF (BATS:ARKF) and ARK Next Generation Internet ETF (BATS:ARKW).
See Also: Bitcoin Flat As Fed Policy Meet Looms; Ethereum, Dogecoin, XRP Decline: Analyst Flags Support Where They Plan To ‘Load Heavily' On ETH
Price Action: At the time of writing, SOL was exchanging hands at $247.16, up 0.67% in the last 24 hours, according to data from Benzinga Pro.
Brera shares plunged 11.05% in after-hours trading after closing 225.49% higher at $24.90 during Thursday’s regular trading session. The stock has gained over 280% in the last month.
The stock exhibited a low momentum score at the time of writing. How does it compare with Forward Industries Inc. (NASDAQ:FORD) and other SOL-based treasury companies? Visit Benzinga Edge Stock Rankings to find out.
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