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NEW YORK - Dominari Holdings Inc. (NASDAQ:DOMH), a diversified holding company with a market capitalization of $68.5 million, is slated for inclusion in the Russell Microcap Index following the annual reconstitution of Russell US Indexes, which will take effect after the US market opens on June 30. According to InvestingPro data, the company’s stock has shown remarkable momentum with a 394% return year-to-date.
The reconstitution, which captures the 4,000 largest US stocks as of April 30 by total market capitalization, ensures that the Russell Microcap Index reflects the market for the subsequent year. Dominari Holdings’ inclusion in the index also means it will be automatically added to the appropriate growth and value style indexes.
Anthony Hayes, CEO of Dominari Holdings, commented on the inclusion, "Inclusion in the Russell Microcap Index is a meaningful milestone that reflects the momentum we are building across our business." He emphasized the importance of the inclusion for increasing visibility among institutional and retail investors and reiterated the company’s commitment to delivering long-term value. The company’s financial strength is evidenced by its current ratio of 3.66, indicating strong liquidity, though InvestingPro analysis suggests the stock is currently trading near its Fair Value. Get access to 7 more exclusive InvestingPro Tips to make informed investment decisions.
Russell indexes, managed by FTSE Russell, are notable for their extensive use by investment managers and institutional investors for creating index funds and as benchmarks for active investment strategies. As of June 2024, approximately $10.6 trillion in assets were benchmarked to Russell’s US indexes.
Dominari Holdings Inc. operates through its subsidiaries in various sectors, including wealth management, investment banking, sales and trading, and asset management. The company also seeks growth opportunities in areas such as AI and Data Centers to enhance stockholder value. Financial metrics from InvestingPro show impressive revenue growth of 630.8% in the last twelve months, though the company faces profitability challenges with negative earnings per share of -$5.66.
FTSE Russell, owned by London Stock Exchange Group, is a leading global index provider, offering a wide range of benchmarking, analytics, and data solutions for investors worldwide.
This news is based on a press release statement and contains forward-looking statements that involve risks and uncertainties. The company’s actual results could differ materially from those projected in the forward-looking statements.
In other recent news, Dominari Holdings Inc. has announced a significant merger involving its subsidiary, American Bitcoin, and Gryphon Digital Mining, Inc. This merger, expected to finalize in the third quarter, will see American Bitcoin debut on the Nasdaq stock exchange under its own brand and ticker symbol "ABTC." Dominari Holdings will retain a substantial ownership stake, with its shareholders holding approximately 98% of the new entity. In other developments, Dominari Holdings has appointed CBIZ CPAs P.C. as its new auditor for the fiscal year ending December 31, 2025, following the resignation of Marcum LLP. The transition was smooth, with no disagreements or reportable events between Dominari and Marcum during the previous fiscal years.
Additionally, Dominari Holdings has received approval from FINRA to expand its subsidiary, Dominari Securities LLC, enabling the addition of 50 new seats and the growth of office locations. This expansion aligns with Dominari’s focus on emerging technologies, including investments in AI, data centers, and renewable energy. The company has also expressed intentions to support early-stage companies from initial funding to IPO processes, fostering future industry leaders. These recent developments reflect Dominari Holdings’ strategic initiatives to expand its footprint in the digital infrastructure and technology sectors.
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