NewGenIvf (NIVF) stock rocketed higher on Tuesday after the fertility services company announced a $30 million staking investment in the Solana (SOL) cryptocurrency. It will do so through its $26 million and $100 million existing credit facilities through ATW and White Lion, respectively.
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This isn’t NewGenIvf’s first crypto investment. The company started its journey into building a crypto reserve with its $1 million purchase of Bitcoin (BTC) in December 2024. It joins a growing list of companies, such as GameStop (GME), that have started holding crypto reserves.
NIVF stock initially dropped 14.85% when the crypto investment was announced yesterday. That came with some 49 million shares traded, compared to a three-month average of 459,000 units. However, the stock has made up for that loss today with a 170.35% rally in pre-market trading. This has shares trading at $4.65, which is still a far cry from the $83.40 they traded at when the year began.
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