Shares of the microcap firm CleanCore Solutions, trading under the symbol ZONE, are making a significant move after the bell. They’re up a hefty 38% in extended trading. The reason? A rather unconventional purchase. The company just announced it spent roughly $68 million to acquire 285,420 Dogecoin.
This isn’t a random impulse buy, it seems. The move comes right on the heels of a major capital infusion. Just last week, CleanCore managed to raise $175 million. They got that money from some notable names in the crypto investment space, including MOZAYYX, Pantera, GSR, and FalconX. I suppose that gave them the firepower to make this kind of play.
A Major Dogecoin Acquisition Plan
According to a press release that went out Monday afternoon, this is apparently just the beginning. CleanCore’s plan is to acquire up to a staggering *one billion* DOGE within the next thirty days. That’s a massive number, no matter how you look at it.
But they aren’t stopping there. The company’s longer-term ambition is even more eye-catching. They’ve stated a goal of eventually securing 5% of the entire Dogecoin supply. That’s a serious long-term commitment to a cryptocurrency that started as a joke. It makes you wonder about their overall strategy, doesn’t it? They’re certainly not dipping a toe in; they’re jumping in the deep end.
Market Reaction and Ripple Effects
The market’s reaction has been immediate and powerful for ZONE stock. A 38% pop in after-hours trading is nothing to sneeze at. It clearly shows that investors, for now at least, are viewing this bold move positively. Or perhaps they’re just reacting to the sheer novelty of it all.
It’s not just the stock that’s reacting, either. Dogecoin itself is continuing its own positive momentum. At the time of this writing, DOGE is sitting with a gain of about 7% over the past 24 hours. It’s difficult to say how much of that is directly tied to CleanCore’s announcement, but the timing is certainly interesting. A major corporate buyer entering the market for a meme coin in such a big way was bound to cause some ripples.
This whole situation raises a lot of questions about the future of corporate treasury management. We’ve seen companies like Tesla buy Bitcoin, but this is a different beast entirely. It feels riskier, more speculative. Only time will tell if this gamble pays off for CleanCore and its investors or if it’s a sign of a market getting a little too heated.
