Tom Lee Mulls Roughed-Up Semler Scientific for 'Granny Shot' Portfolio

The recent wave of companies adding bitcoin to their balance sheets has not yielded universally positive results. Semler Scientific (SMLR), a medical technology firm that pivoted into bitcoin treasury strategy, has seen its stock fall over nearly 50% in 2025 to nearly the level it was at a bit more than one year ago when it first began to accumulate BTC.The company’s premium to its net asset value (NAV), often referred to as multiple-to-NAV (mNAV), has dropped below 1x. On a basic share count basis, its market cap sits at approximately $420 million compared to bitcoin holdings valued around $491 million (4,449 BTC), putting its NAV ratio at just 0 source: https://www.coindesk.com/markets/2025/06/11/tom-lee-mulls-roughed-up-semler-scientific-for-granny-shot-portfolio