BUZZ-Securitize tumbles as quarterly revenue slips, expenses surge
SECZ•Analyst coverage remains bullish
All three analysts covering the stock rate it "buy", and their median price target is $15, according to data compiled by LSEG.
Tokenization revenue declines while costs rise
Revenue from tokenization fell 12% to $7.8 million in the second quarter, while total operating costs and expenses rose 56% to $24.1 million.
Including the session's move, the stock is down 44.5% year to date.
Securitize shares fall after Q2 revenue and EBITDA miss
Shares of tokenizing platform Securitize SECZ.N slumped 20% to $6.3 on Wednesday after markets closed as the company reported second-quarter results.
The company said total revenue was $14.4 million, down 5% from the prior-year period, and reported an adjusted EBITDA loss of $5.5 million, compared with positive adjusted EBITDA of $1.8 million a year earlier.
