Voyager Digital (TSE: VOYG), one of the fastest-growing publicly traded cryptocurrency platforms in the United States, announced Thursday that Stephen Ehrlich, CEO and director, has retired the Automatic Securities Disposition Plan (ASDP).
An ASDP is a plan or arrangement whereby securities held by insiders of an issuer are sold automatically in accordance with a predetermined schedule.
The ASDP was previously announced on December 31, 2021. No shares were sold under the plan. The ASDP will terminate, in accordance with its terms, in 30 days.
CEO Commentary
“Despite having a floor significantly above the current stock price, I felt it was in the best interest of the investors to withdraw the plan,” Ehrlich said.
“Based on our key financial metrics, including revenues for the quarter ended December 31, 2021, as disclosed in our press release issued January 5, 2022, I believe Voyager is undervalued and am excited about our product growth and expanded capabilities planned for 2022, including our NFT offering, debit card rollout, international expansion and more.”
Wall Street’s Take
Earlier in January, Noble Financial analyst Joe Gomes kept a Buy rating on VOYG and set a price target of $25 (C$31.27). This implies 156.7% upside potential.
The rest of the Street is bullish on Voyager with a Strong Buy rating based on five Buys.
The average Voyager Digital price target of C$28.10 implies 130.7% upside potential to current levels.
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