Meta Planet Stock Slides Despite 116% Bitcoin Revenue Surge, CEO Cites “Gap with Fundamentals”
TOKYO – Shares of Meta planet are under pressure despite a dramatic 116% year-on-year surge in Bitcoin revenue, highlighting a disconnect between the company’s strong financial performance and investor sentiment. The stock closed at 622 yen today, a significant drop from its peak of 1,930 yen, even after a 7.43% rise on Friday.
The discrepancy underscores growing investor sensitivity to stock prices over underlying corporate strength,especially as Meta Planet aggressively expands its Bitcoin holdings.The company currently holds 38,230 BTC (approximately 5.15 trillion won),making it the fourth largest listed company by Bitcoin reserves. Despite this,the stock has lost roughly 20% of its value in September alone,and remains down 70% from the start of the year.
Meta planet’s third-quarter bitcoin revenue reached 2.44 billion yen (approximately $160 million or 22.2 billion won), a 115.7% increase. Operating profit exceeded market forecasts by 88%, and the company boasts a debt ratio of less than 1%, effectively operating with a near debt-free balance sheet.Recent aggressive Bitcoin purchases, including a $63.5 million (879.3 billion won) acquisition of 5,419 BTC on September 22, have brought the company’s total bitcoin reserves to over 30,000 BTC, positioning it competitively against rivals like Bullish.
“The gap between fundamentals and stock prices is a factor that is frustrating for investors,” stated Meta Planet CEO Simon Gerovich in a post on social media platform X on October 2. He invoked a sentiment echoed by Jeff Bezos during the dot-com bubble, stating, “stocks are not a company,” and emphasized the importance of long-term patience.
The recent dip in Bitcoin prices to around $112,000 (now trading around $120,000) is being closely watched by market experts, who are assessing whether the current rebound can serve as a new catalyst for growth.
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