Shares of Hong Kong-based media company QMM Holdings (QMMM) rose 1,737% at $207 on Nasdaq after a surge of 2,300% on Tuesday. The rally followed the company’s announcement of the $100 million digital assets Treasury, fixed by Bitcoin, Ethereum and Solana.
The extraordinary inventory movement highlighted retail-led momentum and speculation, despite the volatility quickly reappearing. The stock fell nearly 50% to around $105 in after-hours trading.
QMMM Crypto Treasury is pinned by Bitcoin, Ethereum and Solana
QMMM Holdings is in Hong Kong Based in Kong, NASDAQ-registered digital advertising and media companies pivot on blockchain and AI. As announced Tuesday, the company confirmed it will build a $100 million digital assets Treasury department across Bitcoin, Ethereum and Solana.
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Bitcoin is the basis for its resilience and market reliability. While Ethereum’s smart contract architecture is expected to enhance AI-driven agents and distributed applications, Solana’s speed and scalability supports real-time analytics, metaverse interaction and Web3 infrastructure.
The company’s January SEC filing showed only $497,993 and cash and net losses for fiscal year 2024, raising questions about how QMMM will fund its crypto accumulation. No further funding details have been made public, and the representative did not respond to requests for clarification.
From digital media to Web3 autonomous ecosystem
QMMM, a former digital advertising business, has established itself as a blockchain native company. We have announced plans for a decentralized data market that will use AI-driven analytics to support investors, developers and creators. The company aims to provide DAO financial management tools, smart contract vulnerability detection, and enhanced metaverse.
“Our cryptocurrency initiative combines with expertise in AI and digital platforms and is designed to create sustainable value for stakeholders while strengthening its role as a future-looking technology company,” CEO Bun Kwai said in a statement.
QMMM founder Bun Kwai became CEO and Chairman in June 2023 after a long-standing major subsidiary. He holds a bachelor’s degree in digital graphics communications from the Baptist University of Hong Kong.
Analysts, including Benzinga, call it “the advantage of story-driven”
The explosive surge in QMMM outperforms sector-wide movements that are different from Canada’s Pearsol strategy, dropping 42% on the same day with its NASDAQ debut.
Analysts note the speculative nature of QMMM’s assessment jumping, reporting that Benzinga is “a narrative-driven inverse” that leads to cryptography adoption rather than basic.
Despite initial enthusiasm, the stocks are back significantly in trading outside of business hours, reflecting the attention of a wider range of investors. QMMM remains a risky play due to minimal institutional compensation and limited financial transparency. While that pivot shows its ambition to lead in Web3, its execution risk and funding challenges ensure its long-term trajectory.
