Tron Stock Slides In Nasdaq Debut After Reverse Merger With SRM

Shares of Tron (TRON) began trading on the Nasdaq on Thursday following a $100 million reverse merger with SRM Entertainment (SRM), marking the blockchain company’s public debut under the ticker ‘TRON’. 

TRON’s stock slid nearly 5% on Nasdaq on Thursday morning. Justin Sun, founder of the TRON blockchain and global advisor to Tron – also known to have close ties with President Donald Trump – led the ceremony at Nasdaq MarketSite in Times Square, New York City.

“We managed to become a Nasdaq-listed company today, but still, we have a road ahead of us,” Sun said at the Nasdaq event. “We need to fight. We need to build to manage to get ourselves to be the same level as Nvidia and other big companies in the space.”

The company positions itself as a leader in blockchain innovation and digital asset treasury management, focusing on holding the largest number of TRON (TRX) tokens among publicly traded firms.

TRX token trended nearly 1% lower on Thursday morning. TRX’s price has more than doubled in value over the past year. On Stocktwits, retail sentiment around the Tron token dipped to ‘bearish’ territory from ‘neutral’ a day ago.

Tron's public listing was not done via a traditional IPO but through a reverse merger – a process by which a private company merges with an already publicly listed company. Through this merger, the private Tron blockchain entity effectively went “public" by taking over the listed company without going through the conventional IPO process.

SRM Entertainment, a Nasdaq-listed company, merged with Tron back in June. It was subsequently renamed Tron and shifted its business focus to a blockchain-integrated treasury management strategy.

As part of the deal, Tron Inc. injected a large holding of more than 356 million TRX tokens into the company’s treasury, making it the largest publicly traded holder of TRON assets, and Sun joined as a global advisor to lead the strategic blockchain vision.

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