Eric Trump-Backed American Bitcoin Down Over 60% In A Month, Yet This Analyst Just Initiated 'Buy' Rating For ABTC Stock

Benzinga

Roth Capital initiated American Bitcoin with a Buy and a $4 target—over 100% upside—even as the stock sold off sharply after its lock-up expired and early investors, including Eric Trump, were allowed to sell. The company holds 4,783 BTC and is building a strategic Bitcoin reserve.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:03A Roth Capital analyst projected more than 100% upside for American Bitcoin,

00:08even as the stock faced heavy sell-offs, according to Benzinga.

00:11Darren Afdahi initiated ABTC with a buy rating

00:14and a $4 target that implies a 106% upside from Wednesday's close.

00:20Roth Capital underwrites a SPAC called Columbia Acquisition Corp.

00:25Three, which lists Donald Trump Jr. as a director.

00:28The stock fell more than 60% this month and nearly 20% this week

00:32after its lockup expired and early investors, including Eric Trump, were allowed to sell.

00:38The company is building a strategic Bitcoin reserve

00:40and holds 4,783 BTC valued at $432 million.

00:47American Bitcoin rose 1.55% in pre-market trading

00:51after closing 5.37% lower at $1.94 on Wednesday.

00:56For all things money, visit Benzinga.com.

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