WonderFi is making crypto great again, Haywood says

Following a business update from the company, Haywood analyst Gianluca Tucci remains bullish on WonderFi Technologies (WonderFi Technologies Stock Quote, Chart, News, Analysts, Financials TSX:WNDR).

On November 26, WNDR issued an update for investors, noting that it had surpassed $2.1-billion in client assets.

“We’re extremely pleased with the new market confidence demonstrated by investors,” CEO Dean Skurka said. “Consumers have long been optimistic about the value in the industry and their confidence has now been bolstered through the recent moves by multiple global jurisdictions and institutional-level investors to treat digital assets as a viable long-term investment option.”

The analyst summarized the development.

WonderFi reported a solid business update where it has achieved a record in client assets under custody, surpassing the $2.1Bn level. This represents over 65% growth since the close of Q3/24 and a 110% increase compared to the end of 2023. Also of note, total value of assets staked on WNDR’s platforms now exceeds $120M, +165% YTD and +50% since the close of Q3/24. We continue to believe the stock remains deeply undervalued and disconnected to its growing and exciting fundamentals, as these data points stress. We believe we are in the early innings of mainstream adoption of crypto as an asset class – mainly Bitcoin and Ethereum – which will accelerate over the coming years. The return of Donald Trump to the presidency presents a compelling macroeconomic and regulatory backdrop for cryptocurrencies. With historical trends, institutional interest, and technological advancements aligning, now is a prime moment for strategic investment in this asset class. The added prospect of Elon Musk’s involvement as a top advisor brings unparalleled pro-innovation leadership to the table, further strengthening the case for cryptocurrencies as a growth-oriented investment. Under this outlook, we believe WonderFi is a prime beneficiary.

In a research update to clients November 26, Tucci maintained his “Buy” rating and price target of $0.60 on WNDR.

The analyst thinks the company will post Adjusted EBITDA of $10.3-million on revenue of $51.2-million in fiscal 2024. He expects those numbers will improve to Adjusted EBITDA of $21.3-million on a topline of $61.6-million in fiscal 2025.

Tucci says WNDR is making crypto great again.

“With the return of Donald Trump to the U.S. presidency in 2025, a unique investment opportunity is emerging in the cryptocurrency sector,” the analyst argued. “Historically, political leadership has significantly influenced financial markets and regulatory environments. Trump’s second term could bring deregulation, economic policies favoring alternative assets, and increased market volatility—conditions under which cryptocurrencies often thrive. Furthermore, with Elon Musk potentially serving as a top advisor in a Trump administration, the intersection of pro-innovation leadership and crypto-friendly policies could catalyze unprecedented growth in the digital asset space.”