SONN - Sonnet BioTehrapeutics - Continuation to $16 50% Fib
After SONN broke out to $30.63 from $4.20 in yesterday's pre-market, after announcing entering an agreement to become a Public Cryptocurrency Treasury Company. We entered 
SONN at $8.28 this morning in's pre-market during the completion of consolidation and convergence on the EMAs from the Consolidation Downtrend. Looking for a $16 PT / 50% Fib Retrace Retest on the 15-Min.
FINANCIAL NEWS:
Sonnet BioTherapeutics shares climbed after the oncology-focused biotechnology company said it entered into an agreement to become a public cryptocurrency treasury company.
Shares more than doubled to $13.50 on Monday. Shares were up 78.5% over the past year.
Sonnet BioTherapeutics , which entered the business combination agreement with Rorschach and other sponsors, said it plans to build a reserve of HYPE, the token of the Hyperliquid Layer-1 blockchain.
Sonnet BioTherapeutics will transform into a new entity called HyperLiquid Strategies at the agreement's close. The new company is expected to hold 12.6 million HYPE tokens and gross cash invested of at least $305 million , for a total assumed closing value of $888 million .
The company will name David Schamis , chief investment officer and co-founder of Atlas Merchant Capital , as chief executive of HyperLiquid Strategies.
SONN at $8.28 this morning in's pre-market during the completion of consolidation and convergence on the EMAs from the Consolidation Downtrend. Looking for a $16 PT / 50% Fib Retrace Retest on the 15-Min. FINANCIAL NEWS:
Sonnet BioTherapeutics shares climbed after the oncology-focused biotechnology company said it entered into an agreement to become a public cryptocurrency treasury company.
Shares more than doubled to $13.50 on Monday. Shares were up 78.5% over the past year.
Sonnet BioTherapeutics , which entered the business combination agreement with Rorschach and other sponsors, said it plans to build a reserve of HYPE, the token of the Hyperliquid Layer-1 blockchain.
Sonnet BioTherapeutics will transform into a new entity called HyperLiquid Strategies at the agreement's close. The new company is expected to hold 12.6 million HYPE tokens and gross cash invested of at least $305 million , for a total assumed closing value of $888 million .
The company will name David Schamis , chief investment officer and co-founder of Atlas Merchant Capital , as chief executive of HyperLiquid Strategies.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.