On Tuesday, CaliberCos Inc., an Arizona-based alternative asset manager, announced that it had completed its first purchase of Chainlink (LINK) under a new Digital Asset Treasury Strategy.
The news sparked an unprecedented surge, with CWD shares skyrocketing by 2,500% intraday.
First Nasdaq-Listed Firm to Anchor LINK in Treasury Policy
CaliberCos has become the first Nasdaq-listed company to incorporate Chainlink into its corporate treasury policy. According to the company, the initial purchase served as a system test for internal processes, with plans for gradual accumulation over time.
Funding will be drawn from an equity credit line, cash reserves, and equity-based securities.
CEO Chris Loeffler emphasized that the strategy reflects the firm’s belief that “Chainlink is the infrastructure connecting blockchain with real-world assets.” The company highlighted that the framework covers tax, accounting, custody, and governance, positioning CaliberCos apart from purely speculative crypto plays.
Stock Erupts, but Risks Loom
Following the announcement, trading volume in CWD surged past 79 million shares, compared to a daily average of under 10 million. The stock, which had been trading near $2.10, spiked to an intraday peak of $56 before settling at $7.60 by market close.
This was not the first Chainlink-driven rally. On August 28, when CaliberCos first disclosed plans to add LINK to its treasury, CWD jumped from $1.70 to $4.40, drawing strong attention from retail traders and speculative investors.
Still, despite Tuesday’s surge, CWD remains down over 80% year-over-year. Analysts currently rate the stock as “Hold”, with a price target of $2.50, far below post-rally levels.
Part of a Broader Trend – But Analysts Warn of Risks
CaliberCos’ move comes amid a broader wave of corporate treasury experiments with digital assets. Just a day earlier, Eightco announced plans to purchase Worldcoin (WLD), triggering a 1,400% surge in its stock.
Both cases highlight the growing enthusiasm among retail investors for companies tying their balance sheets to crypto assets, even as financial fragility persists.
However, analysts caution that CaliberCos is grappling with revenues down more than 40% in 2024, while net losses have widened by over 50%. Heavy leverage, limited analyst coverage, and opaque governance add to the challenges.
Market commentators argue that CWD’s valuation is largely narrative-driven, highly vulnerable to speculative swings, and better suited for meme stock enthusiasts than for institutional investors seeking long-term value.
