QMMM Holdings Limited (QMMM) stock plummeted on Wednesday after the investment holding company’s shares saw a massive rally yesterday. That rally came about after QMMM Holdings Limited revealed plans to shift its business toward crypto and blockchain artificial intelligence (AI).
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To go along with that news, QMMM Holdings Limited announced plans to create a crypto treasury made up of Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). The company said that it expects the crypto treasury to reach an initial size of $100 million.
QMMM Holdings Limited’s rally and fall saw it join a trend that many other companies have experienced lately. It’s become more common to see companies adopt crypto treasury strategies, and their shares often rocket on the news. However, these same companies also typically see their shares fall once the excitement wears off. This is all in a bid to copy the success Strategy (MSTR) has experienced with its Bitcoin holdings.
QMMM Holdings Limited Stock Movement Today
QMMM Holdings Limited stock was down 59.18% in pre-market trading on Wednesday, following a 1,736.73% rally yesterday. Investors will also note the shares have rallied 16,071.88% year-to-date and 3,005.78% over the past 12 months.
Trading activity is muted today, with some 97,000 shares having changed hands. For comparison, nearly 15 million shares were traded yesterday, and the company’s three-month daily average is roughly 4.93 million units.
