Wall Street's newly listed stock jumps 25% after major announcement

Wall Street's newly listed stock jumps 25% after major announcement originally appeared on TheStreet.

Justin Sun's blockchain firm Tron Inc. (Nasdaq: TRON) filed an S-3 form with the Securities and Exchange Commission (SEC) on July 28, requesting to issue a mixed shelf security offering of up to $1 billion.

The company said it may offer and sell up to $1 billion in the aggregate of common stock, preferred stock, debt securities, warrants, rights, and units from time to time. It said:

"We may sell these securities directly to investors, through agents designated from time to time or to or through underwriters or dealers."

Following the latest announcement, the TRON stock jumped as much as 25% to reach $12. It was trading at $10.97 at press time.

TRX, the native cryptocurrency of the Tron network, also rose nearly 0.8% and reached $0.327.

Join the discussion with CryptoWendyO on Roundtable here.

Founded by Justin Sun in 2017, Tron Inc. is a blockchain company that went public on July 24, following a reverse merger with Nasdaq-listed SRM Entertainment.

It recently turned to the crypto treasury strategy pioneered by the likes of Strategy (Nasdaq: MSTR). It has added 365,096,845 TRX tokens to its corporate balance sheet, already building the largest TRX holdings.

Tron said it will use the proceeds from the sale of the upcoming securities, if approved, to acquire more TRX tokens. Nonetheless, it cautioned investors that its TRX token strategy hasn't been tested over an extended period of time or under different market conditions.

Join the discussion with Scott Melker on Roundtable here.

The TRX treasury company raised $100 million in TRX tokens in the June PIPE offering as Justin Sun's father, Weike Sun, was appointed as Chairman of the company's board Zhihong Liu, the senior advisor to Tron DAO since 2021, and Zhihong Liu, who heads the Tron protocol's official blockchain explorer Tronscan, also joined the board.

Story ContinuesEarlier, the company raised $5 million in the May PIPE offering.

SEC and Tron

As previously reported, the Securities and Exchange Commission (SEC) sued Tron and Justin Sun in March 2023 for allegedly selling unregistered securities.

After Donald Trump won the presidential election, Sun invested $30 million in World Liberty Financial, a crypto project backed by the Trump family, in November 2024. Later, the SEC, Tron, and Sun jointly asked the court to stay the case in February 2025.

Notably, Sun was also the wealthiest guest at the private dinner hosted by Trump for the top 220 holders of the TRUMP meme coin on May 22. Sun bought meme coins worth $19 million to make it to the VIP event.

Wall Street's newly listed stock jumps 25% after major announcement first appeared on TheStreet on Jul 28, 2025

This story was originally reported by TheStreet on Jul 28, 2025, where it first appeared.

View Comments