Presenting a New Strategy to the Board—And Winning Their Buy-In
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Yahoo
4 hours ago
- Yahoo
SharpLink's Ether Bet Surpasses $1.3B After Latest Purchase
SharpLink Gaming (SBET), the ether (ETH) treasury company led by Ethereum co-founder Joseph Lubin, continued its buying spree bringing total holdings above $1.3 billion. The firm said in a Tuesday press release that it acquired 79,949 ETH over the last week at an average price of $3,238, its largest weekly purchase ever. With the latest acquisition, the firm held 360,807 ETH as of July 20, worth roughly $1.33 billion at current prices. The company still has $96.6 million of funds raised by selling shares through its at-the-market equity for more ETH purchases, the company said. SBET shares were 6% up in premarket trading even as ETH slipped 2.4% over the past 24 hours. SharpLink announced a pivot to a crypto treasury strategy centered on Ethereum in late May, taking a page of bitcoin-focused playbook of Michael Saylor's Strategy. Joseph Lubin, who is also the CEO of Ethereum development firm Consensys, joined the firm as chairman. The firm has quickly become one of the largest corporate owner ETH, the second-largest cryptocurrency by market cap, while operating validators and staking the tokens to earn a reward. Last week, it announced to raise the ATM facility to $6 billion to raise more funds by selling shares for ETH acquisitions. Lubin also praised the recent signing of the GENIUS Act by President Trump into law, calling the legislation a watershed moment that provides regulatory clarity for blockchain and digital assets in the U.S. "With the Genius Act now law, the regulatory uncertainty that has surrounded crypto innovation is finally easing," Lubin said in a statement. "We believe this ushers in a more supportive environment for companies like SharpLink to not onlyoperate and grow, but also to harness the full potential of Ethereum — including its security, scalability and smart contract utility — to drive profound, transformative change across the global digital economy."Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 hours ago
- Yahoo
Strategy vs. Riot Platforms: Which Bitcoin-Focused Stock Has an Edge?
Strategy MSTR and Riot Platforms RIOT are two well-known Bitcoin-focused stocks. While Strategy is the world's largest bitcoin treasury company, holding 607,770 bitcoins as of July 20, 2025, Riot Platforms offers infrastructure to mine the most popular cryptocurrency, has been soaring due to increasing acceptance as a non-sovereign asset, as well as higher institutional and corporate adoption. Bitcoin surpassed $120,000 this month, benefiting from an improving regulatory environment. The passing of the GENIUS Act on July 17 has been a key catalyst for digital assets and cryptocurrencies. The Act provides a legal background to stablecoins, which are privately issued digital money, and requires stablecoin tokens' value to be equivalent to $1, always. Other pending regulations — The CLARITY Act and The Anti-CBDC Surveillance State Act — bode well for Bitcoin enthusiasts. The liberal policies of U.S. President Donald Trump have been a key catalyst in driving adoption of Bitcoin and other cryptocurrencies. An executive order by President Trump, which directed a working group to study and propose changes to cryptocurrency regulations, bodes well for crypto enthusiasts. In March, President Trump announced the creation of a crypto reserve, including Bitcoin, Ethereum, XRP, Solana and Cardano, which augurs well for cryptocurrency-focused stocks, including Strategy and Riot Strategy or Riot Platforms, which has an edge now? The Case for MSTR Stock Strategy benefits from increasing bitcoin yield, 13.7% as of April 28, 2025, keeping the company on track to reach the full-year target of 15%, which is now raised to 25%, and the bitcoin dollar gain target to $15 billion (up from the initial target of $10 billion). The company's disciplined approach to capital raising through preferred equity offerings — Strike (8% convertible preferred is trading with an effective yield of roughly 9%) and Strife (10% fixed coupon perpetual preferred) — is a key catalyst. As of April 28, 2025, MSTR raised $6.6 billion through equity offerings and $3.4 billion through fixed income ($2 billion from convertible notes, and $0.7 billion each through Strike and Strife).Strategy plans to raise $42 billion through equity issuance and $42 billion through fixed-income securities by the end of 2027. Under the current plan, the company has $21.1 billion in equity and $35.6 billion in fixed-income securities remaining to be issued. Strategy is benefiting from growing software subscription revenues. The company benefits from continuing cloud demand with its flagship Strategy One, which powers some of the largest analytics deployments in the world. Strategy One supports varied industries, including retail, banking, technology, manufacturing, insurance, consulting, healthcare, telecommunications and the public sector. Strategy is leveraging generative AI to automate and accelerate the deployment of AI-enabled applications across enterprises. The Case for RIOT Stock Riot Platforms is a vertically-integrated Bitcoin mining company offering comprehensive and critical infrastructure to mine Bitcoin. The company has been exploring the feasibility of developing a portion of RIOT's power capacity for AI and High Performance Computing (HPC) uses. Riot Platforms' plans to spend $155.8 million between the second-quarter and fourth-quarter 2025 timeframe to develop Corsicana Phase II, Corsicana Land Acquisition & Water Access, Kentucky Infrastructure and Kentucky Miner first-quarter 2025, Riot's Bitcoin mining operations achieved greater than 88% uptime, a significant year-over-year increase. The company produced 1,530 Bitcoin in the reported quarter. As of March 31, RIOT held 19,223 Bitcoin, up 8% sequentially. Moreover, Bitcoin yield was 7% year-to-date. The company now targets a full-year hash rate growth target of 22% (7% growth in first-quarter 2025).Riot Platforms' Engineering division is benefiting from the E4A acquisition. Improving supply chains is bringing material costs down, driving margins. MSTR's Earnings Estimate Revisions Steady, RIOT's Improves The Zacks Consensus Estimate for MSTR's 2025 loss is pegged at $15.73 per share, unchanged over the past 30 days. The company reported a loss of $6.72 per share in 2024. MicroStrategy Incorporated Price and Consensus MicroStrategy Incorporated price-consensus-chart | MicroStrategy Incorporated Quote The consensus mark for Riot Platforms' 2025 loss has improved four cents to $1.44 per share over the past 30 days. The company reported earnings of 34 cents per share in 2024. Riot Platforms, Inc. Price and Consensus Riot Platforms, Inc. price-consensus-chart | Riot Platforms, Inc. Quote Stock Performance and Valuation: MSTR Vs. RIOT Year to date, Strategy shares have appreciated 47.2%, while Riot Platforms have returned 37.3%. MSTR Outperforms RIOT Image Source: Zacks Investment Research In terms of Price/Book, Strategy shares are trading at 3.63X, a premium compared with Riot Platforms' 1.7X. Valuation: RIOT is Cheaper Than MSTR Image Source: Zacks Investment Research Both Strategy and Riot Platforms are overvalued, as suggested by the Value Score of F. Conclusion Strategy benefits from its policy to hold Bitcoin on its balance sheet. However, RIOT's significant dependence on Bitcoin makes it a riskier stock due to growing volatility. Strategy's diversified business model (though software is a very small part of the business) offers some relief to investors in this a Zacks Rank #3 (Hold) company, has an edge compared with Riot Platforms, which currently has a Zacks Rank #4 (Sell).You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report MicroStrategy Incorporated (MSTR) : Free Stock Analysis Report Riot Platforms, Inc. (RIOT) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
4 hours ago
- Business Wire
Roots Announces Results of Voting at Fiscal 2024 Annual and Special Meeting of Shareholders and Changes to Board of Directors
TORONTO--(BUSINESS WIRE)--Roots ('Roots,' 'Roots Canada' or the 'Company') (TSX: ROOT), a premium-outdoor lifestyle brand, today announced the results of voting at its Fiscal 2024 Annual and Special Meeting of Shareholders held today (the 'Meeting'). Each of the matters voted upon at the Meeting as set out below is described in greater detail in the Notice of Annual and Special Meeting of Shareholders and Management Information Circular of Roots dated June 6, 2025. The total number of shares represented at the Meeting was 32,924,989, representing approximately 82% of Roots' outstanding shares entitled to be voted. Election of Directors All of the nominees listed in the Management Information Circular prepared in connection with the Meeting were elected as directors by a resolution passed by a majority of the shareholders represented in person or by proxy at the Meeting, to hold office until the next annual meeting following their election or until their successors are elected or appointed. The following represents the votes received with regard to such matter: Nominee Votes For % Votes For Votes Against % Votes Against Phil Bacal 32,880,672 99.87% 43,987 0.13% Scott Cameron 32,882,972 99.87% 41,687 0.13% Mary Ann Curran 32,887,789 99.89% 36,870 0.11% Gregory David 32,887,732 99.89% 36,927 0.11% Edward H. Kernaghan 32,893,372 99.90% 31,287 0.10% Dale H. Lastman, C.M., O. Ont. 32,883,982 99.88% 40,677 0.12% Dexter Peart 32,886,772 99.88% 37,887 0.12% Meghan Roach 32,883,989 99.88% 40,670 0.12% Erol Uzumeri 32,867,677 99.83% 56,982 0.17% Expand As previously disclosed, Richard Mavrinac and Joel Teitelbaum did not seek re-election at the Meeting. Meghan Roach, President and Chief Executive Officer of Roots, stated: 'We look forward to welcoming Scott Cameron and Ed Kernaghan to the Roots Board of Directors. Scott's deep experience in Asia will be additive as we continue to explore global expansion, while Ed brings a strong background in capital markets and public company boards. I would also like to sincerely thank Joel Teitelbaum and Richard Mavrinac for their commitment and meaningful contributions to Roots over the years.' Erol Uzumeri, Chairman of the Board, added: 'We are excited to strengthen our Board with the appointments of Scott and Ed, whose complementary skills fit perfectly with our goals. Scott's international experience and Ed's governance expertise will bring valuable insights to our discussions as we work toward a promising future. On behalf of the Board, I am grateful to Joel and Richard for their thoughtful leadership and commitment throughout their tenure.' Scott Cameron is a self-employed consultant advising and financing ventures in the consumer, apparel, and sports/athletics sectors. Between 2021-2022, he served as CEO of Hourglass Cosmetics, a cruelty-free luxury beauty brand. Prior to that, Mr. Cameron held several senior executive roles at Canada Goose from 2016-2021, including President of Asia-Pacific, President of Greater China, EVP of Stores and Ecommerce, and Chief Strategy and Business Development Officer. Before Canada Goose, Mr. Cameron was a Partner in the Consumer and Retail practice at McKinsey & Company, advising global brands on growth strategy, merchandising, international expansion, organization, and digital transformation. He holds an MBA from Harvard Business School, where he was a George Baker Scholar, and a Bachelor of Commerce (Honours) from Queen's University. Edward Kernaghan is currently President of Kernwood Limited and a partner at Kernaghan & Partners, positions he has held since October 2000 and January 2015, respectively. Mr. Kernaghan has over 15 years of experience in the financial services business. He held the position of Executive Vice-President at Kernaghan Securities, a firm he started along with his father, Ted Kernaghan, in 2001. Mr. Kernaghan also currently serves on a number of other public company boards, including Velan Inc., Exco Technologies Limited, Obsidian Energy Ltd. and Black Diamond Group Limited. Mr. Kernaghan is a graduate of the University of Toronto with a Master of Science in Theoretical Physics, and he has a Bachelor of Science, Honors degree from Queen's University. Appointment of Auditors KPMG LLP was reappointed as auditor of Roots and the directors were authorized to fix the auditor's remuneration by a resolution passed by a majority of the shareholders represented in person or by proxy at the Meeting. The following represents the votes received with regard to such matter: Votes For % Votes For Votes Withheld % Votes Withheld 32,905,219 99.94% 19,770 0.06% Expand Approval of Amendment to Omnibus Equity Incentive Plan The adoption of the amendment to Roots' omnibus equity incentive plan was approved by a resolution passed by a majority of the shareholders present or represented by proxy at the Meeting. As a result, the total number of common shares of Roots available for issuance under the omnibus equity incentive plan has increased from 3,679,220 common shares to 4,084,703 common shares. The following represents the votes received with regard to such matter: Votes For % Votes For Votes Against % Votes Against 32,761,398 99.50% 163,261 0.50% Expand About Roots Established in 1973, Roots is a global lifestyle brand. Starting from a small cabin in northern Canada, Roots has become a global brand with over 100 corporate retail stores in Canada, two stores in the United States, and an eCommerce platform, We have more than 100 partner-operated stores in Asia, and we also operate a dedicated Roots-branded storefront on in China. We design, market, and sell a broad selection of products in different departments, including women's, men's, children's, and gender-free apparel, leather goods, footwear, and accessories. Our products are built with uncompromising comfort, quality, and style that allows you to feel At Home With NatureTM. We offer products designed to meet life's everyday adventures and provide you with the versatility to live your life to the fullest. We also wholesale through business-to-business channels and license the brand to a select group of licensees selling products to major retailers. Roots Corporation is a Canadian corporation doing business as 'Roots' and 'Roots Canada'.
