According to Bijié Wǎng, since September 19, Solana Digital Asset Trust (DAT) stocks have fallen an average of 61.5%, underperforming the 40.6% decline in SOL. Major holders like Forward Industries and The Solana Company have seen losses exceeding 70%. Declining mNAV has hindered financing, prompting companies like Upexi to launch a $50 million stock buyback plan instead of continuing to buy SOL. Meanwhile, Defi Development Corporation is seeking to issue $65 million in perpetual preferred shares to purchase SOL.
DAT Stocks Outperform SOL in Downside Since September
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