Stock Soars After Hours as CEO Claims Company's Bitcoin-Focused Indexes Could Emerge as the 'MSCI of the Crypto Industry'
Bullish's Ambition: CEO Tom Farley stated that Bullish's CoinDesk 5 index could become the "MSCI of the crypto world," aiming to provide broader investment options beyond Bitcoin, similar to traditional indices like the Dow or S&P 500.
Performance and Partnerships: The CoinDesk 5 index has returned approximately 132%, while the CoinDesk 20 index has netted 321%. Bullish has signed agreements with major exchanges to launch products tied to these indices, including an ETF arrangement.
Financial Growth: Bullish reported its first quarterly earnings since going public, showing a profit of $0.93 per share, a significant improvement from a loss of $1.03 per share the previous year.
Stock Market Activity: Following its public listing, Bullish's stock experienced fluctuations, closing down 5.82% in regular trading but rising 2.12% in after-hours trading, with a total retracement of 20% since its debut.
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