Securitize surges after SEC paves path for tokenized stock trading
BUZZ-Securitize surges after SEC paves path for tokenized stock trading ** Shares of tokenizing platform Securitize Corp SECZ.N surge 21.2% to $9.42 on Thurs after U.S. SEC rolls out a five-year exemption to allow cos to trade blockchain-based or tokenized stocks and other securities
** Crypto-linked stocks including Robinhood HOOD.O, Coinbase COIN.O, Webull BULL.O and Bullish BLSH.N also gain on Thurs
** Crypto industry says tokenizing securities could revolutionize markets by enabling 24/7 trading, instant settlement, boosting liquidity and reducing transaction costs
** In July, SECZ debuted on the NYSE after completing merger with Cantor Fitzgerald-sponsored SPAC, Cantor Equity Partners II
** In March, SECZ and NYSE, part of Intercontinental Exchange ICE.N, announced collaboration to develop tokenized versions of traditional financial securities
** SECZ shares off nearly 25% from their first-day close (July 2) of $12.30
** Of 5 analysts covering the stock, 1 rates "strong buy", 4 rate "buy"; median PT $11, per LSEG data
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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