Voyager Digital Ltd. (OTC US:VYGVF) recently dipped below its fall 2021 pivot lows in the $8-9 per share area. The stock is now trading down toward a potential test of $7 support. Like many growth stocks with ties to the crypto space, Voyager has been dealing with a difficult market environment, but could be moving down to compelling pricing as the context evolves across the market.
To make matters more interesting, the company recently announced that Tim Mund has joined the team as Head Of US Payment Sales. According to the company’s release, in the newly created role of Head of US Payment Sales, Tim will be responsible for the sales and go-to-market strategy for Voyager’s payment solutions and for building the customer pipeline with payment service providers (PSPs) and key merchants to integrate Voyager’s technology with their payment networks and systems.
Voyager Digital Ltd. (OTC US:VYGVF) bills itself as a company that engages in the provision of a fully functional suite of APIs and mobile apps to allow anyone who is legally able to do so the ability to trade, invest, earn and secure digital assets across multiple types of digital assets.
The company was founded by Philip Eytan, Gaspard de Dreuzy, Stephen Ehrlich and Oscar Salazar on June 25, 1993 and is headquartered in New York, NY.
The company managed to rope in revenues totaling $102.7M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of 3752.3%, as compared to year-ago data in comparable terms.
As noted above, VYGVF just announced Tim Mund has joined the Company as Head Of US Payment Sales.
“Voyager’s recent acquisition of Coinify enables consumers to transact using cryptocurrencies with fiat settlement,” said Steve Ehrlich, CEO and co-founder of Voyager. “With the addition of a top sales executive like Tim, we are positioned to expand our payments product line in the US and help PSPs accept crypto, reduce transaction costs, and increase efficiency across the entire payment chain, adding significant value for merchant and end user buyers.”
The chart shows -9% tacked on to share pricing for the listing in the past week, a bounce that has taken root amid largely bearish action over the larger time frame. The situation may be worth watching. VYGVF has evidenced sudden upward volatility on many prior occasions. Furthermore, the name has registered increased average transaction volume recently, with the past month seeing 44% over what the stock has registered over the longer term.
Currently trading at a market capitalization of $1.25 billion, VYGVF has a significant war chest ($5.8B) of cash on the books, which is balanced by virtually no total current liabilities. VYGVF is pulling in trailing 12-month revenues of $317.8M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 3752.3%. We will update the story again soon as developments transpire.
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