Tom Lee Considers Semler Scientific for Fundstrat’s Granny Shot Portfolio
Semler Scientific (SMLR) has experienced a nearly 50% decline in stock value in 2025, aligning with its strategy to accumulate bitcoin. The company's market cap is approximately $420 million, while its bitcoin holdings are valued at around $491 million (4,449 BTC), resulting in a net asset value (NAV) ratio of 0.859x.
- The mNAV has dropped below 1x, affecting the company's ability to raise capital through share sales.
- For share sales to benefit shareholders, the stock price must exceed the NAV of its bitcoin holdings.
- Issuing new shares at or below NAV would dilute existing shareholders, hindering further bitcoin acquisition.
Despite these challenges, Tom Lee from Fundstrat considers Semler Scientific an opportunity within their "Granny Shot" research portfolio, highlighting its unconventional investment approach.