CaliberCos Shares Skyrocket on Chainlink Purchase
By Chris WackCaliberCos shares jumped more than 500%, to $13.64, after the company said it has completed its initial purchase of Chainlink tokens.The stock rose as high as $48 a share earlier in the session, and is now up 7% in the past 12 months.The diversified real estate and digital asset management platform said it intends to fund its Chainlink acquisitions through its existing equity line of credit, cash reserves, and through the issuance of equity-based securities.The company previously said it was starting a digital asset treasury strategy, where it would accumulate Chainlink in increments with consistent purchases over time and a stated objective of generating long-term appreciation and current yield through staking.As of 12:30 p.m. ET, Chainlink was trading at $22.87 a unit, up 3.3% in the past month and up 118% in the past 12 months.Write to Chris Wack at [email protected]