Eyenovia Plunges 24.82% on HYPE Token Investment

On June 19, 2025, Eyenovia's stock experienced a significant drop of 24.82% in pre-market trading.

Eyenovia has announced a $50 million investment to launch a new strategy involving HYPE tokens. The company plans to issue convertible preferred stock at $3.25 per share, which can be converted into 15.4 million common shares, along with warrants for 30.8 million shares. This move is part of a broader effort to bolster the company's financial position and explore new opportunities in the digital asset space.

Eyenovia's decision to invest in Hyperliquid tokens is seen as a strategic move to revive a weakening share price. By joining the trend of buying altcoins as crypto reserves, the company aims to diversify its assets and potentially attract new investors interested in the cryptocurrency market.

Eyenovia has also appointed a strategic advisor for digital assets, further solidifying its commitment to this new direction. The company's recent announcements have sparked significant interest and speculation among investors, contributing to the volatility in its stock price.