VisionSys (VISN) Shares Drop 20.3% Amid $12M Raise, Strategic Clarity Doubts

VisionSys shares plunged 20.3448% in pre-market trading on Nov. 14, 2025, marking its steepest decline since January as the stock fell to $0.24 per share following a $0.29 pricing in a recent registered direct offering. The move came amid a $12 million capital raise with unspecified allocation details, raising investor concerns about strategic clarity.

Earlier this month, the company announced a $2 billion Solana treasury initiative, including a $500 million planned SOL acquisition over six months. However, no purchases have been disclosed to date, casting doubt on the program’s execution. A partnership with Marinade Finance—a Solana DeFi protocol managing over $2 billion in assets—failed to offset market skepticism about operational progress.

Investors are scrutinizing the company’s ability to deliver on ambitious blockchain-related projects, including a Solana-based Bitcoin Hyper platform. While the project secured $27 million in funding and promises enhanced transaction speeds, the absence of concrete implementation milestones has amplified short-term volatility.

Technical indicators suggest further near-term weakness, with RSI hovering near 37 and potential support levels at $130-$135 for related assets. A sustained breakout above $175-$185 resistance could trigger a rally toward $400, but immediate momentum remains bearish.

Backtesting a momentum-driven strategy using VisionSys’ 2025 price action shows a -18% average return in 60-day windows following 10% drops. A buy-the-dip approach at $0.25 with a $0.40 target and $0.20 stop-loss would require 60% upside to offset a 33% downside risk, reflecting high volatility and low conviction in current fundamentals.