Solana Company (HSDT) Advances $500M Unlock, Shares Drop 60% in Three Days

Previously known as Helius, Solana Company (HSDT), a Pantera-backed digital asset treasury company, has chosen to advance the unlock date for its $500 million PIPE transaction. The move allows early investors to sell their shares earlier than anticipated. The judgement seems to have shattered market confidence, as HSDT’s shares fell by about 60% in three days. The current share price is about $6.50, which is less than the $6.881 September issue price. According to analysts, investors hurried to cut losses or take profits after the early unlock, which probably caused a wave of selling. How vulnerable crypto-linked stocks are to liquidity shocks and shifting market opinion is demonstrated by the steep decline.