Bitcoin
$61,588.78-2.80%
Ethereum
$3,005.40-2.40%
Binance Coin
$546.88+0.00%
Solana
$130.68-5.81%
XRP
$0.49024544-1.10%
Toncoin
$6.03-4.84%
Dogecoin
$0.14519010-7.92%
Cardano
$0.44565101-2.36%
Avalanche
$34.17-2.00%
Shiba Inu
$0.00002184-2.74%
Tron
$0.11002486-2.58%
Bitcoin Cash
$483.18+1.79%
PlayIconNav
Crypto Prices CoinDesk 20 Index CoinDesk 20 Index
Consensus 2024Price Increase Extension Ends In
02
DAYS
10
HR
01
MIN
34
SEC
Finance

Voyager Digital Downgraded by Compass Point on Concerns Over Crypto Markets, Retail Investing

The firm now rates the shares at neutral, down from buy.

By Michael Bellusci
AccessTimeIconMay 17, 2022 at 2:56 p.m. UTC
Updated May 11, 2023 at 4:20 p.m. UTC
Voyager Digital CEO Stephen Ehrlich (Danny Nelson/CoinDesk)

Voyager Digital CEO Stephen Ehrlich (Danny Nelson/CoinDesk)

10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Shares of crypto broker Voyager Digital were downgraded to neutral from buy by boutique investment firm Compass Point, which cited headwinds across the crypto industry and which questioned how the trading platform's retail investors will fare during the market rout.

  • Compass Point expects more regulatory scrutiny for crypto companies that offer lending products, analyst Chris Allen wrote in a note Tuesday.
  • Bitcoin (BTC) has fallen over 30% this year to just above $30,000 and the collapse of terraUSD (UST) has rattled the crypto market.
  • The firm lowered its earnings estimates and cut its share-price target to C$8 ($6.23) from C$14.
  • The shares, which trade on the Toronto Stock Exchange and over-the-counter in the U.S., rose about 5% Tuesday after declining on Monday. The shares have lost more than 75% this year.
  • Voyager announced plans for a private placement financing Monday for $60 million.
VolumeMuteUnmute

Bitcoin Outperforming Crypto Stocks This Year

  • Arca CIO on Crypto Outlook After FTX Collapse
    07:45
    Arca CIO on Crypto Outlook After FTX Collapse
  • eToro Consultant Talks Crypto Correlation With Nasdaq Ahead of Historically Bearish September
    02:33
    eToro Consultant Talks Crypto Correlation With Nasdaq Ahead of Historically Bearish September
  • Bitcoin Falls Below $30K as Bullish Momentum Wanes
    11:33
    Bitcoin Falls Below $30K as Bullish Momentum Wanes
  • FTX US Debuts Stock Trading in Push for Bigger Slice of US Retail Pie
    04:57
    FTX US Debuts Stock Trading in Push for Bigger Slice of US Retail Pie

    • Read more: Voyager Digital Raises $60M in Private Placement Led by Alameda

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Author placeholder image
    Michael Bellusci

    Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.

    Follow @mikeybellusci on Twitter

    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.