Mei Pharma Plunges 9.04% Amid Litecoin Reserve Shift

On July 23, 2025, Mei Pharma's stock experienced a significant drop of 9.04% in pre-market trading, marking a notable shift in investor sentiment.

Mei Pharma has recently made headlines with its strategic move to allocate $100 million to Litecoin as part of a pioneering treasury strategy. This decision positions Mei Pharma as the first publicly traded company to hold Litecoin as a primary reserve, signaling a bold step into the cryptocurrency market.

The company's decision to adopt Litecoin as a strategic reserve has garnered significant attention, particularly as it marks the first major corporate adoption of an altcoin as a primary reserve. This move is seen as a forward-thinking strategy that could potentially diversify the company's financial holdings and hedge against traditional market volatility.

Charlie Lee, the founder of Litecoin, has been appointed to Mei Pharma's board, adding further credibility and expertise to the company's cryptocurrency initiative. This appointment is expected to provide valuable insights and guidance as Mei Pharma navigates the complexities of the cryptocurrency landscape.