Cantor Fitzgerald initiated coverage of Fold Holdings (FLD) with an Overweight rating and $6.50 price target The firm says Fold is a bitcoin treasury company with a legitimate underlying business. The company’s core product is a bitcoin debit card, but it will soon be rolling out bitcoin gift cards and a credit card, the analyst tells investors in a research note. Cantor views Fold as “unique” since it has a a core business focused on driving adoption of bitcoin and the ability to execute treasury operations. It likes the stock’s risk/reward at current levels.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FLD:
- Fold Holdings initiated with an Overweight at Cantor Fitzgerald
- Three new option listings and three option delistings on July 17th
- Fold Holdings Terminates VP of Risk and Compliance
- Fold Holdings files to sell 9.28M shares of common stock for holders
- Fold Holdings participates in a conference call with Northland