#evernorth纳斯达克首日收跌1.05%
Holy crap, a Ripple-backed company holding 473 million XRP $XRP has landed on Nasdaq—and taught Wall Street a lesson on its very first day of trading!
Guys, Michael Saylor once used MicroStrategy to stockpile BTC, turning a publicly traded company into a Bitcoin treasury vehicle.
Now Evernorth wants to copy that playbook, but this time with XRP!
The company holds around 473 million XRP, worth a whopping $648 million at $1.37 per token!
On its first day of trading, the stock surged as high as $19.38 before closing at $16.91, down 1.05%.
Even more painful: XRP also fell 3.03% that day.
The biggest thing to watch is that about 80% of the original SPAC’s redeemable shares chose to exit before the listing!
That shows the market isn’t as keen as you might think to assign high valuations to these crypto-hoarding companies.
Put simply, buying XRPN stock gives you indirect exposure to XRP through a publicly traded company—but you also take on the risks of a stock-price premium, company operations, and share-float volatility.
And the company holding 473 million XRP does not mean there were 473 million XRP worth of new buying on the day it listed!
My view is clear: be cautious on XRPN in the short term, while continuing to watch for opportunities as XRP enters traditional capital markets over the long term.
MicroStrategy once used its BTC hoard to tell a new story to capital markets. Now that playbook has been applied to XRP, and Wall Street is clearly starting to run the numbers seriously.
The biggest risk in crypto is that a story sounds like it’s worth $10 billion, but when you actually open the books, the market is only willing to pay for the value of the assets!
$XRP $BTC
#XRP #Ripple #Evernorth纳斯达克首日收跌1.05%
👇 Click the link below to go straight there!
Holy crap, a Ripple-backed company holding 473 million XRP $XRP has landed on Nasdaq—and taught Wall Street a lesson on its very first day of trading!
Guys, Michael Saylor once used MicroStrategy to stockpile BTC, turning a publicly traded company into a Bitcoin treasury vehicle.
Now Evernorth wants to copy that playbook, but this time with XRP!
The company holds around 473 million XRP, worth a whopping $648 million at $1.37 per token!
On its first day of trading, the stock surged as high as $19.38 before closing at $16.91, down 1.05%.
Even more painful: XRP also fell 3.03% that day.
The biggest thing to watch is that about 80% of the original SPAC’s redeemable shares chose to exit before the listing!
That shows the market isn’t as keen as you might think to assign high valuations to these crypto-hoarding companies.
Put simply, buying XRPN stock gives you indirect exposure to XRP through a publicly traded company—but you also take on the risks of a stock-price premium, company operations, and share-float volatility.
And the company holding 473 million XRP does not mean there were 473 million XRP worth of new buying on the day it listed!
My view is clear: be cautious on XRPN in the short term, while continuing to watch for opportunities as XRP enters traditional capital markets over the long term.
MicroStrategy once used its BTC hoard to tell a new story to capital markets. Now that playbook has been applied to XRP, and Wall Street is clearly starting to run the numbers seriously.
The biggest risk in crypto is that a story sounds like it’s worth $10 billion, but when you actually open the books, the market is only willing to pay for the value of the assets!
$XRP $BTC
#XRP #Ripple #Evernorth纳斯达克首日收跌1.05%
👇 Click the link below to go straight there!