Exodus Movement initiated with a Buy at H.C. Wainwright

H.C. Wainwright initiated coverage of Exodus Movement (EXOD) with a Buy rating and $50 price target Exodus holds no crypto for customers, but does maintain a treasury balance of its own carrying roughly 1,900 bitcoin or almost $200M and roughly 19% of its current market cap, the analyst tells investors in a research note. The firm expects the company’s user base to continue to expand in the more favorable crypto environment expected with the administration change.