CaliberCos (CWD) stock rocketed higher on Tuesday after the real estate and digital asset management company announced its initial purchase of Chainlink (LINK) tokens. This is part of a system test transaction as the company moves forward with its Digital Asset Treasury (DAT) Strategy. That will have the company making LINK token purchases over time to generate long-term appreciation and current yield through its stake. The company will use its equity line of credit, cash reserves, and the issuance of equity-based securities to fund these purchases.
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Chris Loeffler, CEO of CaliberCos, spoke about the company’s Chainlink purchase plan. He said, “Each acquisition reinforces our conviction in Chainlink as the infrastructure connecting blockchain with real-world assets. Our strategy is designed around gradual, measured acquisitions that enable us to average into the market and build our LINK treasury responsibly.”
Investors will note that CaliberCos’s Chainlink token purchase comes just one day after a similar move was made by Eightco (OCTO). Eightco announced a private offering to raise funds for its purchase of Worldcoin (WLD) to create a crypto treasury. This announcement resulted in massive trading, which sent the shares more than 1,400% higher yesterday.
CaliberCos Stock Movement Today
CaliberCos stock was up 856.28% on Tuesday, with shares up 30.76% year-to-date. Even so, the stock has still fallen 82.94% over the past 12 months. Today’s crypto news brought heavy trading to CWD stock, as some 79.31 million shares changed hands. For the record, that’s well above the stock’s daily average trading volume of about 9.69 million shares.
Is CaliberCos Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for CaliberCos is Hold, based on one Hold rating over the past three months. With that comes an average CWD stock price target of $2.50, representing a potential 88.97% downside for the shares.
