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DeFi Technologies Inc (OTCMKTS:DEFTF) Releases Q1 2022 Financial Results

Madison Hall , , , ,

Although the company announced fairly strong financial results for the quarter that had ended on March 31, 2022 on Tuesday, it did not do much for the DeFi Technologies Inc (OTCMKTS:DEFTF) stock, which traded within a range.

Market Stats     

On Tuesday, DEFTF stock moved down 2.62% to $0.6136 with more than 114K shares, compared to its average volume of 194k shares. The stock moved within a range of $0.5950 – 0.6899 after opening trading at $0.5950.

DeFi Technologies Announces Q1 2022 Financial Results, with Valour Q1 2022 Net Income of $967,666

In this situation, it may be a good move to look into some of the highlights from the financial results and then make up your mind about the DeFi stock. The company noted that although the market conditions were tough, its wholly owned subsidiary unit Valour Inc clocked as much as $344 million in terms of assets under management at the end of the quarter.

Valour is in charge of all the exchange traded products that DeFi has in its portfolio. Valour recorded as much as $3.1 million in the form of revenues and in addition to that, managed to bring in net income of $968,000.

The Chief Executive Officer of the company Russell Starr noted that the first quarter had been a hugely difficult and volatile period for companies like DeFi, which are involved in the Web 3.0 and crypto spaces. While the performance was strong, it is now going to be interesting to see if the DeFi stock can attract the attention of investors in the coming days or not.

Key Quote

“Q1 2022 has been an extremely difficult quarter for the entire crypto and Web3.0 ecosystem. Broad-based selling across all sectors including the Nasdaq falling into bear territory made our results at Valour even more remarkable,” said Russell Starr, Chief Executive Officer of DeFi Technologies.

Traders Corner

DEFTF stock is trading below the 20-Day and 50-Day Moving averages of $0.84 and $1.04 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.70. 

Madison Hall

After graduating from the University of Buffalo, Madison gained a real interest in the markets. She tends to be a swing trader and enjoys Pilates and yoga in her downtime.