CaliberCos (CWD) stock saw massive gains on Thursday after the real estate investment and asset management firm announced a crypto treasury strategy. The company’s board of directors has approved a strategy that allows it to acquire Chainlink (LINK) tokens. CaliberCos said it will use a portion of its treasury funds to fuel its crypto strategy.
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Chris Loeffler, CEO of CaliberCos, said, “Caliber has always sought to become a diversified alternative asset manager, and this decision allows us to present shareholders with a platform investing in real and digital asset infrastructure. Now that our intentions are clear to the public, we look forward to deepening our relationships with the incredibly robust community supporting Chainlink’s mission and vision.”
In other news, CaliberCos recently received a delisting warning from the Nasdaq (NDAQ). The issue is the company’s shareholder equity, which is below the amount required to remain on the exchange. It has 45 days to submit a compliance plan and could receive a 180-day extension.
CaliberCos Stock Movement Today
CaliberCos stock was up 84.71% on Thursday, following a 1.16% dip yesterday. The shares have fallen 87.84% year-to-date and 86.2% over the past 12 months. Today’s news came with heavy trading, as some 66 million shares changed hands, compared to a three-month daily average of about 3.23 million units.
Is CaliberCos Stock a Buy, Sell, or Hold?
Turning to Wall Street, coverage of CaliberCos is thin. Fortunately, TipRanks’ AI analyst Spark has it covered. Spark rates CWD stock a Neutral (42) with a $1.50 price target. It cites “significant financial challenges, with declining revenues and high leverage” as reasons for this stance.
