DeFi Technologies Prepares
for Nasdaq Listing Following
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Treasury Play
DeFi Technologies Prepares for Nasdaq Listing Following Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Treasury Play
The Canadian crypto firm's stock has almost tripled in value this year.
Now it could reach a much larger investor base.
By Andrew Throuvalas
Sep 17, 2024 Sep 17, 2024
2 min read
Images: DeFi Technologies/Shutterstock
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A high-performance• Современное искусство » Перформанс Canadian crypto stock is vying for a U.S• Соединённые Штаты Америки (США). stock market
listing, potentially opening the company to an army of hungry new investors.
DeFi Technologies—parent company to various crypto-focused subsidiaries,
notably exchange traded fund (ETF) operator Valour—currently trades on Cboe
Canada under the DEFI ticker, and over OTC markets under DEFTF. On Monday, the
company announced that it had filed a Form 40-F registration statement with
the SEC to also get listed on the Nasdaq stock market.
“The listing of the company's common shares on the Nasdaq remains subject
to the approval of the Nasdaq and the satisfaction of all applicable listing
and regulatory requirements, including the Form 40-F being declared effective
by the SEC,” the announcement clarified. The company’s shares will remain
listed on Cboe Canada as well.
In financial market terms, this process is known as “uplisting,” when a
company graduates from alternative, low-liquidity trading markets to an
active, high-liquidity major stock exchange• Экономика » Финансы » Финансовый рынок » Рынок ценных бумаг » Биржи » Фондовые биржи
• Экономика » Финансы » Финансовый рынок » Рынок ценных бумаг » Фондовый рынок » Фондовые биржи.
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Though viewed as a great opportunity for smaller companies to accelerate
growth, uplisting requires overcoming some significant hurdles. Factors
include meeting a certain size, market share, and financial viability.
So far this year, DeFi Technologies has performed strongly on all metrics. Its
stock is up 275% year-to-date, and its quarter-by-quarter profits have far
outstripped its cost of business• Экономика » Бизнес. As of July, the company confirmed that it
had generated $105 million in profit this year, while its total market cap was
just $429 million at the time.
Many analysts—including Reflexivity Research co-founder Will Clemente—have
noted that this represents a remarkable price/earnings ratio that leaves DeFi
Technologies largely “misunderstood” and “undervalued” compared to the average
S&P 500• Экономика » Финансы » Финансовый рынок » Рынок ценных бумаг » Биржи » Биржевые индексы » S&P 500 company.
Upon revealing its Q2 earnings, DeFi Technologies rebounded from a mid-year
slump back above USD $2 per share, leaving most blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн stocks in the dust
during the crypto market lull period. Its profits have been driven by Valour,
its subsidiary that provides crypto investment products in Europe, and DeFi
Alpha, which finds opportunities to generate profits through low-risk
arbitrage trades.
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The company announced in June that it holds Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin on its balance sheet. It
doubled those BTC holdings in July, and also added Solana and CORE to its
treasury.
Edited by Andrew Hayward
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