Shares of Solana treasury company Upexi (UPXI) dropped 60% on Tuesday, trading at $3.82, after investors registered to sell 43.85 million shares. This sale matches the company's initial outstanding shares from April, leading to a significant supply shock. Despite Cantor Fitzgerald's optimistic target price of $16 for Upexi, the sudden increase in available shares drove the stock price down sharply. Upexi, which raised $100 million to establish its Solana treasury, currently holds 679,677 SOL tokens.