Securitize falls 16% after earnings miss, tokenization revenue drops
Securitize shares fell 16% from Wednesday’s close after the tokenization platform’s $14.4 million second-quarter revenue missed Wall Street estimates.
Securitize shares sank in premarket trading on Thursday after the tokenization platform missed Wall Street revenue estimates.
Securitize reported $14.4 million in total revenue in its second-quarter earnings, down 5% compared to the same period last year, according to its quarterly results published on Wednesday.
The revenue came in below the Wall Street consensus estimate of $20.6 million, according to analyst estimates compiled by Yahoo Finance. Securitize shares traded at $6.62 in premarket trading as of 8:10 am UTC, down about 16% from Wednesday’s $7.86 close.