TON Strategy Buys Back Shares, Stakes TON After Price Dip
TON Strategy Responds to Share Plunge with Buyback, Staking
TON Strategy Company (TONX) has begun a strategic shift after its shares plummeted by 40%. The company has repurchased over 250,000 shares of its common stock at $8.32 per share, a significant discount compared to its treasury asset value (TAV) of $12.18.
This buyback is part of a newly launched $250 million program designed to bolster investor confidence. Additionally, TON Strategy is pivoting to position Toncoin (TON) as its primary treasury asset.
Staking TON for Yield
The company has also announced it will stake its substantial TON holdings. This strategy aims to generate rewards by contributing to the security of the blockchain network, effectively turning idle assets into a revenue stream.
- Staking rewards could reach as high as 4.8% annually.
- TON Strategy currently holds 217.5 million TON tokens.
- At a current trading price of $3.24 per TON, staking the entire treasury could yield approximately $34 million per year.
Market Reaction
Despite a recent downturn where TON Strategy shares fell over 43% in the last 30 days, and 9.2% in Friday’s trading session, the market is showing signs of recovery. In after-hours trading, TONX shares have increased by 3.7%.