FRHC - Freedom Holding: Ruling Out Allegations No Market Reaction On Strong Results
2024-02-22 15:06:25 ET
Summary
- Freedom Holding Corp. has outperformed the S&P 500 Index by a factor of 2 over the past 3 years.
- Hindenburg Research's allegations of sanctions evasion and illegal activities were not supported by evidence in an external audit of FRHC.
- FRHC reported substantial revenue growth in Q3 FY2024 and is experiencing significant growth driven by diversified revenue streams and expansion in various regions.
- With a favorable valuation indicating a potential upside of 24.43% and a positive growth trajectory, FRHC is a compelling buying opportunity for investors seeking exposure to emerging markets.
- I therefore reiterate my 'Buy' rating on FRHC.
My Investment Thesis
I first wrote about Freedom Holding Corp. ( FRHC ) in March 2021 , and I have never updated my stock coverage since. After almost 3 years, FRHC has beaten the S&P 500 ( SPX ) ( SPY ) Index by a factor of 2:
Seeking Alpha, Oakoff's coverage of FRHC stock