Bitcoin shares of Kindly MD drop 54% following CEO’s recommendation to exit

Kindly MD’s stock plummeted by over 54% to 1.26 USD after SEC approval for previously restricted trades. CEO David Bailey urged short-term investors to exit, anticipating volatility during the company’s shift to a Bitcoin treasury.

The company’s market capitalization of 504 million USD is significantly undervalued compared to the 663 million USD worth of its 5,765 Bitcoin assets, presenting a potential value opportunity for investors.

Trading volume increased remarkably, exceeding 89 million shares, the highest since February, indicating significant trading activity as investors reacted to CEO Bailey’s statements.