The share price of American inventory-management platform Eightco Holdings (NASDAQ: OCTO) staged one of the most dramatic rallies on Wall Street, soaring more than 3,000% in a single session on September 8.
OCTO stock closed the day at $45.08 after opening at just $1.45, briefly hitting an intraday high above $70 before paring gains.
Investor interest accelerated after the company announced a $250 million private placement along with a $20 million strategic investment from BitMine Immersion Technologies (NYSE: BMNR).
Proceeds from the deal will be used to acquire Worldcoin (WLD) as Eightco’s primary treasury reserve asset, which the company is calling the world’s first Worldcoin treasury strategy.
Top backers of Eightco deal
The deal, led by MOZAYYX with backing from the World Foundation, Discovery Capital Management, and Brevan Howard, is expected to close around September 11, 2025, pending approval from Nasdaq.
Eightco also revealed plans to change its Nasdaq ticker from “OCTO” to “ORBS” and appointed technology and AI analyst Dan Ives as Chairman of the Board.
“I am so excited to be named Chairman of Eightco Holdings Inc. (OCTO), marking the next step in the AI revolution around authentication and Proof of Human (PoH). <…> World is the internet of people. While AI gives us infinite abundance, World gives us infinite trust and authentication,” Ives said.
The move aligns with its strategy to leverage Worldcoin’s Proof of Human technology, which uses iris-scanning Orb devices to verify unique human identities and enable zero-knowledge digital accounts.
Notably, Worldcoin, co-founded by OpenAI’s Sam Altman, already boasts nearly 16 million verified accounts across more than 45 countries, a scale Eightco hopes to capitalize on.
Featured image via Shutterstock
Source: https://finbold.com/why-did-this-stock-rally-3000-in-a-day/