Lion Group Holding (LGHL) stock took off on Thursday after the trading platform operator announced new partnerships tied to its digital asset treasury strategies. The company has teamed up with Autonomous Holdings and Galaxy Digital Holdings (GLXY) to enhance its crypto strategies. Investors will note that this move will see Lion Group join a trend of companies adopting crypto treasury strategies, likely hoping to emulate Strategy’s (MSTR) success.
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With this collaboration, digital asset investment platform Autonomous will act as an advisor for Lion Group’s digital asset treasury allocation process. Galaxy Digital’s part in the team-up will be facilitating trading and execution, which will allow for access and liquidity via its global markets platform.
According to Lion Group, its digital asset treasury strategies will focus on a handful of blockchains. Among them are Hyperliquid (HYPE), Solana (SOL), and Sui (SUI). It claimed that this will give it exposure to next-generation DeFi, scalability, and Web3 infrastructure. Doing so will help it become a “cutting-edge digital asset company.”
Lion Group Stock Movement Today
Lion Group stock was up 28.33% on Thursday but remained down 75.68% year-to-date and 84.29% over the past 12 months. With today’s news came heavy trading, as some 2.1 million shares changed hands, compared to a three-month daily average of about 210,000 units.
Is Lion Group Stock a Buy, Sell, or Hold?
Turning to Wall Street, coverage of Lion Group stock is lacking. Fortunately, TipRanks’ AI analyst Spark has it covered. Spark rates LGHL stock an Underperform (39) with a $2.50 price target. It cites “significant financial challenges, including negative earnings and weak balance sheet metrics, compounded by bearish technical indicators” as reasons for this stance.
