QMMM Stock Popped 1736% On Crypto Treasury Bet Involving Bitcoin, Ethereum And Solana, But Rally Cools After Hours

QMMM Holdings Ltd. QMMM shares plunged in Tuesday's after-hours trading, but not before a stunning rally during the regular trading session.

QMMM is testing upper boundaries. Stay ahead of the curve here.

QMMM Erupts After Crypto Expansion Announcement

The stock fell nearly 60%, reversing the gains from the earlier rally, which brought it as high as $303 at one time, marking an eye-popping gain of 2588.55%. At Tuesday's close, QMMM Holdings was valued at $11.84 billion.

The Hong Kong-based digital media and virtual apparel company announced plans to establish a cryptocurrency treasury with an initial size of $100 million, targeting Bitcoin BTC/USD, Ethereum ETH/USD and Solana SOL/USD.

QMMM Holdings also outlined plans for a “crypto-autonomous ecosystem,” which would combine artificial intelligence and blockchain technologies.

The Unrelenting Wave Of Crypto Treasury

QMMM’s arrival is the latest in a line of similar initiatives taken by under-the-radar companies to capitalize on the volatility of digital assets by adding them to balance sheets.

Michael Saylor’s Bitcoin BTC/USD holding company Strategy Inc. MSTR popularized this approach, which has since spread to most top cryptocurrencies.

Price Action: QMMM shares plummeted 59.23% in after-hours trading after closing 1736.73% higher at $207 during the regular trading session, according to data from Benzinga Pro. Year-to-date, the stock is up by 16,071.88%.

As of this writing, the stock exhibited a very high Momentum score. Visit Benzinga Edge Stock Rankings to see how it compares with Strategy, the company with the largest cryptocurrency treasury.