Crypto Stocks Get Boost from Trump-Xi Meeting and Tokenization Rule
B Riley has raised its price targets for six crypto-linked stocks, citing President Donald Trump's upcoming meeting with Chinese President Xi Jinping and the SEC's new framework for tokenized stocks as key near-term catalysts.
The firm increased its targets on SharpLink Gaming (SBET), Nakamoto (NAKA), Strategy (MSTR), Forward Industries (FWDI), Bitmine Immersion Technologies (BMNR) and Strive (ASST), while maintaining 'Buy' ratings on all six stocks. The price target increases range from 9% to 37%, with SBET stock showing the highest upside at 37%.
B Riley analyst Fedor Shabalin attributed the recent crypto rally to liquidity and sentiment rather than fundamental changes, but noted that 24/7 token trading could drive catch-up moves in crypto-linked equities. The SEC's new framework for tokenized stocks is also seen as a key factor in the sector's growth.