[Securitize's First Financial Report Misses Expectations, Stock Drops 20% After Hours]
According to CoinDesk, the tokenization platform Securitize saw its stock drop 20% after hours on Wednesday, with a per-share loss of $2.37, exceeding analysts' expected loss of $0.15. Securitize's second-quarter revenue was $14.4 million, falling short of the consensus estimate of $20.6 million. The company's average tokenized assets under management amounted to $4.3 billion, with a trading volume of $5.3 billion. In July, the company went public via a SPAC, providing tokenization infrastructure for institutions such as BlackRock.
