We are here because of regulatory clarity mixed with the halving cycle. I tried to tell you this six months ago, right down to telling you the grifters would be out grifting…
OT: Stock and Investment Talk
- Thread starter RU-05
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When I head out to the streets to ask people how Bitcoin works, I’ll ask about chips too. Results to follow
To be honest, your take may not age well. In a year, BTC may be approaching $300-400K! :)
If a banana and duct tape sell for $6.2M then who knows how high BTC can go. With regulators and Trump now seemingly in the crypto industry’s back-pocket and politicians busy buying it’s never going down. I’ve heard rumors that the crypto industry is responsible for Trump crushing the swing states. Seems crazy but who knows.
In the meantime, so far so good on JOBY 10%+ so thanks to whoever mentioned that one.
That’s the future of next gen mass transportation and may even play into the robotaxi dream. City traffic congestion is pure hell. Less cars on city streets are better for robotaxis. Imagine boarding a flying taxi in Secaucus and landing in Battery Park in a matter of minutes at an affordable price. Sign me up.
I have a hard time seeing this on a large scale at some point in the next couple decades.
Edit: Then again Uranium is ripping even though it takes forever to build a reactor.
And there wouldn't be congestion in the air if it were affordable? No lights? No lanes? Would be interesting to see what happens when the flying taxis collide and end up on a slightly less crowded road beneath.
You don’t think people said the same thing about cars on local roads and highways? The taxis will follow the same exact flight pattern. At least we already have air traffic technology and there are plenty of helicopters in and out of NYC. Regardless, I’m not saying this will happen anytime soon.
DEFTF hits 2.59 today. Pomp believes the stock is worth over $7:
To investors,
The market has been focused on the recent rise in bitcoin’s price. The asset sits at $98,700 as of this morning. That is quite an increase from the ~ $17,000 we saw during the FTX collapse in November 2022.
A lot can change in 2 years.
There is another area of the market that I am spending a material amount of time — public companies. I believe that numerous crypto-related public companies are undervalued. Some of them are misunderstood, some of them are smaller cap assets, and some of them have not done a great job of telling their story.
Regardless of the reason, I am constantly looking for companies that are undervalued because that is where I believe a good risk-reward can exist. When I find these companies, I become a shareholder so I can enjoy in the potential upside. You can think of this strategy as the intersection between value investing and growth investing — find undervalued companies in growth sectors with big tailwinds behind them.
Over the next few days I will break down some of these companies in the hopes of shedding light on how mispriced the public market can get.
Lets check in on DeFi Technologies for today’s breakdown (CBOE: DEFI) (GR: R9B) (OTC: DEFTF).
As you may recall, I wrote to this group on April 4th this year to explain why I would have pitched this stock at the Sohn Conference if I had been in attendance. I concluded that letter with the following:
But just because a stock has appreciated materially, it doesn’t mean that the stock is no longer undervalued. For example, EMJ Capital’s Eric Jackson put together a great summary two weeks ago of why the business is still undervalued. He wrote:
Additionally, it feels like we are in a crypto bull market. Solana just hit a new all-time high last night (DeFi/Valour’s largest ETP is their Solana ETP) and bitcoin is poised to cross $100,000 for the first time in history. But crypto markets are not guaranteed to go up in a straight line, so there is always risk associated with investing in highly volatile industries.
DeFi Technologies (DEFTF) is one of the public companies that I still believe is undervalued compared to the rest of the market. I will write about a few others in the coming days to bring light to how widespread this issue is.
To investors,
The market has been focused on the recent rise in bitcoin’s price. The asset sits at $98,700 as of this morning. That is quite an increase from the ~ $17,000 we saw during the FTX collapse in November 2022.
A lot can change in 2 years.
There is another area of the market that I am spending a material amount of time — public companies. I believe that numerous crypto-related public companies are undervalued. Some of them are misunderstood, some of them are smaller cap assets, and some of them have not done a great job of telling their story.
Regardless of the reason, I am constantly looking for companies that are undervalued because that is where I believe a good risk-reward can exist. When I find these companies, I become a shareholder so I can enjoy in the potential upside. You can think of this strategy as the intersection between value investing and growth investing — find undervalued companies in growth sectors with big tailwinds behind them.
Over the next few days I will break down some of these companies in the hopes of shedding light on how mispriced the public market can get.
Lets check in on DeFi Technologies for today’s breakdown (CBOE: DEFI) (GR: R9B) (OTC: DEFTF).
As you may recall, I wrote to this group on April 4th this year to explain why I would have pitched this stock at the Sohn Conference if I had been in attendance. I concluded that letter with the following:
The stock was trading at $0.54 per share at the close on April 3rd. Today the stock trades at $2.41 based on yesterday’s close. This represents a ~ 450% return since I wrote that letter in April.
But just because a stock has appreciated materially, it doesn’t mean that the stock is no longer undervalued. For example, EMJ Capital’s Eric Jackson put together a great summary two weeks ago of why the business is still undervalued. He wrote:
This logic seems fairly strong. DeFi Technologies announced their Q3 2024 earnings report a few days later. You can read the full announcement by clicking here. Here is the summary provided by the company:
- Total Revenues, EBITDA and Net Income: DeFi Technologies recorded Total Revenues of C$24.2 million (approximately US$17.8 million) and C$152.4 million (approximately US$112.0 million) for the three and nine months period ended September 30, 2024 and Net Income of C$24.9 million (approximately US$18.3 million) and C$97.2 million (approximately US$71.4 million) for three and nine months ended September 30, 2024. The Company also reports EBITDA of C$26.2 million (US$19.3 million) and C$102.3 million (US$75.2 million) for the three and nine months ended September 2024, reflecting its strong operational performance and robust revenue growth.
- Substantial Growth in Assets Under Management (AUM): AUM grew by 51.6% since December 31, 2023, to approximately C$770.5 million (US$570.8 million) as of September 30, 2024, driven by favorable market conditions, new product launches, and strategic corporate actions that enhanced trading volumes and overall financial performance. Since September 30, 2024, AUM has further increased to a record high of C$1.1 billion (US$785.4 million) as of November 13, 2024.
- 2024 Outlook: Looking ahead, DeFi Technologies projects its annualized revenues for fiscal 2024 to reach approximately C$198.6 million (US$141.5 million), supported by ongoing AUM growth, upcoming ETP launches, and the integration of new acquisitions, which are poised to capitalize on the favorable conditions in the digital asset sector. Furthermore, the Company continues to evaluate additional Defi Alpha trading opportunities.
Additionally, it feels like we are in a crypto bull market. Solana just hit a new all-time high last night (DeFi/Valour’s largest ETP is their Solana ETP) and bitcoin is poised to cross $100,000 for the first time in history. But crypto markets are not guaranteed to go up in a straight line, so there is always risk associated with investing in highly volatile industries.
DeFi Technologies (DEFTF) is one of the public companies that I still believe is undervalued compared to the rest of the market. I will write about a few others in the coming days to bring light to how widespread this issue is.
Just opened a Coinbase account. Looks like you can only deposit $3000 per day from a checking account? Didn’t know there was a limit…
It goes up as high as $35k/day once you’ve made deposits, verified your contacts, etc
I tried to put a lot more money in and it was capped at 3000. Opened it a few hours ago….
This crypto frenzy reminds me of the dot"con" hysteria of the late 90s....
Was there a president back then that promised to turn dot-.com stocks into a federal strategic reserve asset?
😁
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What is this dependent on? There was no income data collected so not sure how people’s max varies…
How long you’ve had the account, how much you use it, how many deposit accounts you have, verifications you’ve completed, etc
Ok. So you all started out with the same limit until those things were verified?
I don’t remember tbh, but found this:
“A $3,000 deposit limit on Coinbase likely means you haven't fully verified your account, which is the primary factor determining your deposit limits; the more information you provide to verify your identity, the higher your limits will be; other factors include your account activity, payment method, and trading history”
I don't remember all the steps but I was vetted and it took several days at least before my account was officially available for trading and my limit was set on day one.
Live and die by the old stop loss. WOLF will bounce around for a while. If I didn’t get smoked I probably would have bought at $8 for short-term trade. But I lost too much and needed to move on.
Bought Reddit today on the dip. I don’t have the highest conviction but looked at it a dozen times and never pulled the trigger. FOMO got me today.
Next up I’m bullish on Spotify but can’t find an entry point.
I have to believe there will be a major tax selling event in next 3 weeks that will be a good time to deploy cash.
Next up I’m bullish on Spotify but can’t find an entry point.
I have to believe there will be a major tax selling event in next 3 weeks that will be a good time to deploy cash.
Its Bessant
Scott Bessent Treasury secretary
Crypto is a fever/FOMO buy.
Trump pumping it will make the cake rise.
Its probably safe for awhile.
Just need to watch the war the kooks are starting.
Could see electric/Comms/fuel go down - war will come to US - no TV war
I’ve noted a bunch of duds. Just sold QCOM which ive held for awhile for a loss. Just sold PFE for a loss……again.
But markets are at all time highs. We should all be in the green.
Saw that. Im watching. Its cheap, and growth is expected and that should be a great combo. So its about execution at this point.
Wonder if this moe today was a ceo rumor.
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Very, very happy with this selection. Markets should be as well.
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