DeFi Development Corp. (DFDV) saw a notable increase in stock price after announcing a significant boost to its share buyback program, raising it from $1 million to $100 million. The stock rose approximately 4% on the day to $15.73, although it is down 12% over the past week. The company aims to utilize these buybacks as a strategy to enhance its long-term growth in Solana per share (SPS). Currently, DFDV's market capitalization is $395 million, while it holds approximately $452 million in Solana assets, placing its market to net asset value (mNAV) ratio below 1. This buyback strategy allows the firm flexibility to repurchase shares when mNAV is significantly low. Analysts indicate that Solana's performance has suffered relative to its major counterparts due to market liquidations and pricing pressures, reflecting a more volatile trading environment.

Source 🔗