I have been taking a look at WonderFi, which looks a lot to be the Canadian version of FTX.
This is another crypto based company which Kevin O'leary seems to be the front-man for, and talks about doing his due-dilligence, etc. In fact, during their last earnings call, I watched him talk for about 1/3 or so of the entire call. Really Kevin???
It also seems, WonderFi has been off doing aquisitions of other exchanges while there has been blood in the streets. Canadian crypto exchanges such as BitBuy and CoinBerry have been some of the popular names gobbled up.
When I look at the current financials of WonderFi though, it does look rather daunting...
Considering not too long ago, shares were selling at $2.50 or so. And now you can buy em for about 20 cents. That's literally pennies on the dollar for what is another Mr. Wonderful company
Let's keep in mind that interest rates are expected to continue to climb, and the fall-out from FTX may be far from over.
That said, I don't blame anyone if they wish to do a speculative bet at this point and gab a block of shares. Or perhaps wait a bit for them to go even lower over the next few months. But keep in mind, everything Kevin touches seems to turn to shit.
p.s. And if you're wondering about contagion with FTX & WonderFi:
No material exposure to Alameda Research or FTX despite early investment
https://www.wonder.fi/press-release...-material-exposure-to-ftx-or-alameda-research
Seems they invested something like over half a million in FTX shares years ago, but that's about all.
This is another crypto based company which Kevin O'leary seems to be the front-man for, and talks about doing his due-dilligence, etc. In fact, during their last earnings call, I watched him talk for about 1/3 or so of the entire call. Really Kevin???
It also seems, WonderFi has been off doing aquisitions of other exchanges while there has been blood in the streets. Canadian crypto exchanges such as BitBuy and CoinBerry have been some of the popular names gobbled up.
When I look at the current financials of WonderFi though, it does look rather daunting...
Considering not too long ago, shares were selling at $2.50 or so. And now you can buy em for about 20 cents. That's literally pennies on the dollar for what is another Mr. Wonderful company
Let's keep in mind that interest rates are expected to continue to climb, and the fall-out from FTX may be far from over.
That said, I don't blame anyone if they wish to do a speculative bet at this point and gab a block of shares. Or perhaps wait a bit for them to go even lower over the next few months. But keep in mind, everything Kevin touches seems to turn to shit.
p.s. And if you're wondering about contagion with FTX & WonderFi:
No material exposure to Alameda Research or FTX despite early investment
https://www.wonder.fi/press-release...-material-exposure-to-ftx-or-alameda-research
Seems they invested something like over half a million in FTX shares years ago, but that's about all.
