Securitize (NYSE: SECZ) set a new all-time intraday high of $14.86 Wednesday, then closed up 10.46% at $14.36. Cantor Fitzgerald initiated a buy recommendation with a $21.20 target; Rosenblatt also recommended buying and raised its target to $13 from $11.
Cantor cited Securitize’s position in tokenizing traditional equities. The article puts traditional financial assets at $319 trillion worldwide, with $39 billion (0.01%) on-chain. Securitize manages around $5 billion in tokenized assets across 23 public blockchains.
The SEC last Thursday granted temporary, conditional relief for certain platforms to issue tokenized versions of publicly traded U.S. stocks. Platforms and liquidity providers must meet conditions, including preserving token holders’ rights similar to traditional stockholders and allowing companies to object to tokenization. Rosenblatt called the SEC’s Innovation Exemption a significant catalyst and also cited a proposal to modernize transfer-agent rules.
