Why Are Janover Stocks Surging On Friday?

Shares of Janover Inc. JNVR are trading higher in premarket on Friday after the company ramped up its exposure to the cryptocurrency market with a fresh purchase of Solana SOL/USD.

The move marks the second transaction under the company’s recently enacted digital asset strategy.

On Monday, Janover said its board has implemented a new treasury policy to allocate its principal reserves into digital assets.

Following the new policy, Janover made its first execution on Thursday, by purchasing $4.6 million Solana.

The latest acquisition brings the fintech company’s total Solana holdings to 83,084 tokens. That’s a current value of about $9.6 million.

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This translates to approximately 0.06 tokens per outstanding share, up 109% from its previous level. On a per-share basis, the Solana holdings now represent a value of $6.59. Janover has about 1.5 million shares outstanding.

Janover intends to stake its newly added SOL, which allows it to generate income while supporting the Solana blockchain's operations.

The funds used to acquire more Solana stem from a recently closed $42 million financing round. Executives have said they are deploying that capital in areas they believe offer strong upside under current market conditions.

Looking ahead, Janover intends to expand its involvement with the Solana ecosystem by operating one or more network validators. This step would not only enable further staking of its digital holdings but also contribute to maintaining and securing the blockchain infrastructure.

Janover's treasury policy aims to give investors financial exposure to Solana (SOL), while its AI-driven platform connects commercial real estate professionals through subscription-based data, software, and services.

Price Action: JNVR shares traded higher by 12.85% at $50.75 in premarket at last check Friday.

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