Brera Holdings Becomes 'Solmate,' Records 225% Jump After Announcing Solana Treasury Strategy — Rally Simmers Down After Hours - ARK Fintech Innovation ETF (BATS:ARKF)

Brera Holdings PLC (NASDAQ:BREA) shares retraced in Thursday's after-hours trading after rallying by triple digits during the regular session.

BREA shares are testing new highs. Track the latest developments here.

Solana Treasury Play Pushes Stock To The Moon

The stock fell 11.05% after-hours, a slight pullback from the threefold surge earlier in the day.

Brera Holdings shares jumped to an intraday high of $52.95, representing a 592% increase from the previous day’s closing.

The rally comes after the Ireland-based company rebranded to Solmate, a Solana (CRYPTO: SOL)-focused cryptocurrency treasury company, following an oversubscribed $300 million private investment in public equity offering.

Cathie Wood-led Ark Invest backed the offering and scooped up 6,500,001 shares of the company, worth $161.85 million, through its ARK Innovation ETF (BATS:ARKK), Ark Fintech Innovation ETF (BATS:ARKF) and ARK Next Generation Internet ETF (BATS:ARKW).

Price Action: At the time of writing, SOL was exchanging hands at $247.16, up 0.67% in the last 24 hours, according to data from Benzinga Pro.

Brera shares plunged 11.05% in after-hours trading after closing 225.49% higher at $24.90 during Thursday’s regular trading session. The stock has gained over 280% in the last month.

The stock exhibited a low momentum score at the time of writing. How does it compare with Forward Industries Inc. (NASDAQ:FORD) and other SOL-based treasury companies? Visit Benzinga Edge Stock Rankings to find out.