One hour chart from Sept 7 to present
WonderFi (WONDF)* $1.98
- Updated November 28, 2021
LOTM will add WonderFi $1.98 to the LOTM: Ten Under $10 for the Double list. We will try for a price under $2.00 but adjust as we go through the early part of this coming week.
WonderFi came public August 2021 through a reverse merger in Canada. The symbol above is the USA Pink Sheet / OTC quote.
We have a number of items we like about WonderFi and some things we don’t like. Today we our goal is to introduce you to WonderFi.
- The shares are not cheap on a Market Cap or Enterprise valuation Vs operations. It is a start-up and the company’s offerings are not market ready. The stock is Illiquid. LOTM anticipates there will be consistent dilution through stock offerings as they raise money for Acquisitions, Purchase of DeFi Assets and Working Capital for company operations.
- Based on Data from TradingView, WonderFi has 74.8 million shares outstanding. That provides a market cap $147 million. The company is in growth mode so expect continued share dilution in the future. One can hope they find a lower method of raising money than share issuance but most companies do not. We see this as a small negative factor
- The Strategic Investment Partners & Advisors in the stock is an impressive group:
- Sam Bankman-Fried – founder of FTX Crypto Exchange – Considered the wealthiest Billionaire Under 30.
- Kevin O’Leary – Shark Tank host and founder O’Shares investment family of ETF’s
- Leonard Latchman – Founder of MindMed (MNMD) & serial entrepreneur.
- Josh Richards – Internet influencer with 40-million followers in the 18 to 24 age group.
- Bill Koutsouras – Chairman of the Board of Directors. “Bill has served as the Lead Independent Director of Galaxy Digital (BRPHF) since its public listing in 2018, and as Chairman of the Board of Wheaton Precious Metals International (WPM) where he has been a member of the board for over 15 years,” It is the people involved that attracts us to the company. This team are all winners individually. How they operate as a team is a different question, but we suspect they’ll figure this out.
WonderFi’s Mission is to bring Crypto, specifically DeFi, (Decentralized Finance) to the general public is an easy to understand and interactive & easy use way.
LOTM: This is a big market as the general public is still in the dark on the use of Blockchain and DeFi specifically. Even many traders of crypto only trade the price volatility and are not knowledgeable on the technology.
Link to their public statement on coming public – describing themselves.
Link to their Pitch Deck.
Link to chart on TradingView
- Consider digging deeper into WonderFi over the long weekend. Know what you own.
- Link to Seeking Alpha interview with their CEO Ben Samaroo.
LOTM has initiated a position in Wonderfi. Our average cost to date, is $2.05. We do not see this as a trading stock due to illiquidity but we do see the opportunity to trade. Our inhouse strategy is to dollar cost average on weakness.
Before Monday, we will get an up-to-date share count and market cap valuation. There have been capital raises in the time since they came public.
November 25, 2021, updated November 28, 2021, by Tom Linzmeier editor LivingOffTheMarket.com
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* An account related to LOTM holds a position in this security.
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