Everything you need to know about otcmkts vygvf

  • Voyager Digital (OTCQB: VYGVF) recorded $3.6 million in revenue in Q2:21, a new high. The business saw strong growth in February, surpassing $1.7 billion in AUM and $20 million in monthly sales. We believe VYGVF’s long-term prospects are bright. We keep our BUY rating and raise our target price to $23.50 per share (up from $13.00 previously).
  • Revenues rose 3,949 percent year over year to $3.6 million in Q2:21, up from $88,146 in Q2:20.
  • AUM reached $230 million at the end of December 2020, up from $5 million at the end of December 2019, marking a 45x rise over the previous year.
  • As of February 2021, management reported that preliminary sales had increased to $20 million.
  • otcmkts vygvf at https://www.webull.com/quote/otcmkts-vygvf AUM and the number of daily net deposits and new accounts on the website continue to rise at a rapid pace. We raise our estimates due to the significant rise in AUM and trading velocity.
  • We keep our Buy rating and raise our target price to $23.50, indicating a 56 percent price increase opportunity.
  • Primary Threats
  • Voyager makes acquisitions regularly. Failure to incorporate any acquisition could expose the company to increased risk and uncertainty.
  • Cryptocurrency-related companies operate in a highly ambiguous regulatory landscape. Many governments around the world are mired in uncertainty and lack of explanation. Any adverse transition has the potential to harm operations.
  • Overview of Q2:21
  • Revenues rose 3,949 percent year over year to nearly $3.6 million in the second quarter of 2020, compared to $88,146 in the second quarter of 2019. Fees accounted for 58 percent of revenue, with the remainder coming from interest received on cryptocurrency storage with different custodians. For Q2:21, fee income was $2.0 million, and interest income was $1.5 million. Higher trading volumes and improved spreads contributed to the rise in fee profits.
  • At the end of December 2020, assets under management reached $230 million, up from $5 million at the end of December 2019, reflecting a 45x rise over the previous year. The total traded value for Q2:21 was $339.6 million, up from $13.5 million the previous year. The company had 42,865 supported accounts at the end of the period.
  • Operating expenses for Q2:21 were $6.3 million, up 130 percent year over year due to higher G&A and product development costs. Voyager plans to expand its workforce by 2021, resulting in increased G&A costs.
  • The launch of a new product. Voyager plans to expand its global reach and introduce new products to the Voyager network. Debit cards, credit cards, stock trading, and the opportunity to sell on margin are expected to be added by 2021 and beyond.
  • In good financial shape. In 2021, the firm has earned $146 million, bringing its overall cash balance to $156 million. The funds will be used to help the business expand faster.

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