Exodus Movement (Exod) is the correct product at the right time, start using the purchase rating: Benchmark
The recently -lang Hack Crypto Exchange Bybit features the value of self-custody wallets, the Broker Benchmark said in a Wednesday report starting the scope of the Exodus Movement (EXOD).
The broker started the crypto wallet firm’s scope with a purchase rating and a price target of $ 38. Sharing increased by 5.7% to $ 25.89 in early trading.
The Nebraska -based company has a “right product at the right time,” written by analyst Mark Palmer.
The need for self -care has been emphasized in recent weeks, when the Crypto Exchange Bybit is the subject of a hack of 400,000 ether (ETH), which costs nearly $ 1.5 billion.
Exodus movement has lost more than 60% of its market cap over the last five weeks, Benchmark said, providing a compelling point of entry for investors looking for exposure to a company with a “powerful operating momentum, the shown ability to measure quickly, and a tailwind from the accommodative bearing to the Crypto space in the US,” the report said.
Recent weaknesses are not linked to concerns about the operation of the company’s operating, the report mentioned, as has been posted by the company Strong results of the fourth quarter Earlier this month.
Exodus movement gets most of its revenue from its integration feature, Benchmark said, and the “Wallet-As-a-Service” business uses this technology on its crypto swap engine, integrated with platforms such as Ledger and Magic Eden.
The stock began trade with the Nyse American, the New York Stock Exchange Market, in December last year.
