{"id":17408,"date":"2025-03-12T13:31:43","date_gmt":"2025-03-12T13:31:43","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=17408"},"modified":"2025-03-12T13:31:43","modified_gmt":"2025-03-12T13:31:43","slug":"exodus-movement-has-right-product-at-right-time-initiate-with-buy-rating-benchmark","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=17408","title":{"rendered":"Exodus Movement Has Right Product at Right Time, Initiate With Buy Rating: Benchmark"},"content":{"rendered":"
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The recent hack<\/a> of crypto exchange Bybit highlights the value of self-custody wallets, broker Benchmark said in a Wednesday report initiating coverage of Exodus Movement (EXOD).<\/p>\n

The broker started coverage of the crypto wallet firm with a buy rating and a $38 price target. The shares rose 5.7% to $25.89 in early trading.<\/p>\n

The Nebraska-based company has the “right product at the right time,” wrote analyst Mark Palmer.<\/p>\n

The need for self-custody was underscored in recent weeks, when crypto exchange Bybit was the subject of a hack of 400,000 ether (ETH), worth about $1.5 billion.<\/p>\n

Exodus Movement has lost more than 60% of its market cap in the last five weeks, Benchmark noted, giving a compelling entry point for investors looking for exposure to a company with “strong operating momentum, the demonstrated ability to scale rapidly, and a tailwind from the accommodative stance toward the crypto space in the U.S.,” the report said.<\/p>\n

The recent weakness is not linked to concerns about the firm’s operating performance, the report noted, as the company posted strong fourth-quarter results<\/a> earlier this month.<\/p>\n

Exodus Movement gets most of its revenue from its exchange aggregation feature, Benchmark said, and its “wallet-as-a-service” business leverages this technology in its crypto swap engine, which is integrated with platforms such as Ledger and Magic Eden.<\/p>\n

The stock began trading on the NYSE American, the New York Stock Exchange’s sibling market, in December last year.<\/p>\n

Read more: SEC Approves Crypto Wallet Maker Exodus to List on NYSE American After Denying It in May<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The recent hack of crypto exchange Bybit highlights the value of self-custody wallets, broker Benchmark said in a Wednesday report initiating coverage of Exodus Movement (EXOD). The broker started coverage of the crypto wallet firm with a buy rating and a $38 price target. The shares rose 5.7% to $25.89 in early trading. The Nebraska-based […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-17408","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/17408","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17408"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/17408\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}