Why I'm Still Buying FRMO Corporation Despite The Pullback

2025-10-22 09:45:56 ET

Thesis

Back in January, I said FRMO Corporation ( OTCPK:FRMO ) was a good stock to buy. The company owns a mix of unusual investments, like shares in Horizon Kinetics and some Bitcoin (BTC-USD) mining businesses through Winland and Consensus, that I thought were worth more than the market was giving them credit for. At the time, FRMO was trading at about $10 per share, and since that recommendation, FRMO’s stock has dropped about 20%, while the S&P 500 ( SP500 ) has gone up roughly 11%. That gap certainly doesn’t look great, but the situation isn’t necessarily bad news. FRMO’s worth has always depended more on the long-term results of its mix of investments than on short-term price swings....

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