Hyperliquid Strategies Inc. (PURR) shares climbed over 12% in pre-market trading. The rally followed the HYPE token reaching a new all-time high of nearly $76.90. This record price was set on June 16, 2026. Investors view the stock as an equity proxy for the HYPE ecosystem.
A wave of short liquidations in the HYPE market intensified the token's price breakout. Speculative interest is growing ahead of the company's inclusion in the Russell 2000 and 3000 indexes. This index addition is scheduled for the end of June 2026.
Passive funds are expected to increase demand for the stock following the index inclusion. Analysts at Chardan recently raised their price target for PURR.