Safety Shot Stock Plunges Following $25 Million Bonk Token Investment

Safety Shot, a Nasdaq-listed drinks company, experienced a dramatic 51% stock drop following an announcement about the allocation of $25 million from its treasury to the Bonk memecoin. This move has triggered a ripple effect across the cryptocurrency market, with overall memecoin prices falling by 25% since January. Safety Shot’s CEO believes this investment will strengthen their financial standing and diversify their asset holdings within the Bonk ecosystem. However, market reaction was immediate and severe as the stock price plummeted to $0.59 in after-hours trading.