Exodus Movement Inc. has just made its grand entrance onto Wall Street, and boy, it’s turning heads! This crypto wallet company is now strutting its stuff on NYSE American under the ticker “EXOD.” Talk about making a splash!
On its debut day, Exodus’ stock soared by a whopping 36.33%, closing at a cool $53.50 and even hitting an incredible high of $67.00. That’s some serious rocket fuel compared to the likes of Coinbase and Bit Digital, which both took a nosedive, dropping 10% and 12%, respectively. Even Bitcoin miner MARA Holdings couldn’t keep up, closing down 12.15%.
But getting to Wall Street wasn't a walk in the park for Exodus. They had to leap over regulatory hurdles before finally getting the green light from the SEC to list on a mainstream platform. This comes at an intriguing time as President-elect Donald Trump preps to take over and SEC Chair Gary Gensler heads for the exit. Some are whispering about a shift in regulatory winds. Could this be the beginning of a more crypto-friendly era?
Exodus has been around since 2015, leading the charge in non-custodial wallet innovation, supporting a wide range of digital goodies, from cryptocurrencies to NFTs. Despite a recent $10 million net loss, the company isn’t sweating it. They’ve got a $121 million runway, including holdings in Bitcoin and Ethereum, and their revenue has jumped 80% to $22.3 million, thanks to their expanding services and new staking support for Ethereum and Solana.
In the wild, wild world of crypto, Exodus is clearly ready to grab the bull by the horns, and we’re all here for the ride. Buckle up, folks!
