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Hi Matt,
I have my analyst updating the holdings and token prices today for KR1. Hopefully, I will have a NAV later today.
The caveats are -
a) BTC and ETH holdings are unknown so have been entered based on last known numbers
b) There are around 16 holdings that are in at investment cost as they are unlisted at this time
Last number I had was £301m or $420m...
MTB
They dont have to sell
Sentiment is everything ,
As a point of interest Crypto MC down around £120B and DOR around £3B in the last couple of hours ?? Funny Old Game eh !!!!
Hi Phoebus - in the interim report to end June 2021, the stated NAV was 80p per share. Can you confirm that this consistent with your assertion that it currently sits above £2? Thanks.
Thanks Botak,
yeah Shibu has a circulating supply of 1 Quadrillion that's a 1000 Trillion 15 zeros or a 1000 Million Million
VLRM has no little or assets AFAIK and same with QBT basically a shell with Blockchain in the name.
KR1 is geek city central but asset rich!
GLA
Thanks Botak. It's an addition to the share capital of 1.4%, so relatively small effect on the NAV, but agree it would be significant from a trading point of view (around 12 days average volume). However, we don't know these people are selling, and given where the price is vs NAV, and presumably, the faith they have in their own skills and business model, I'd be surprised if they were selling? That said, the price suggests that someone is!
FWIW
Check my post last week thurs 08,30, £3 m of shares will take some shifting ( with the danger of more to come )
Unfortunately ( Or fortunately depends if you long term or short )for shareholders ,KR1 BOD do not mirror the style of the old hand AIM CEO,s like Trevor Brown / David Lenigas who,s strategy is too stimulate the markets and squeeze every penny out of unsuspecting punters , Take VLRM for instance, DL is pumping like an Olympic athlete on the Gib exchange move ( KR1 a holder ), These Guy,s stick there nose in the air ,Gauge market sentiment and execute moves accordingly ,Another example id SHIB coin , A Dog !!! But now has a MC of $33.4 B right behind DOT in the pecking order, Only established 14 months ago but captured market sentiment on the back of Jack S--t, On the other hand we have Polkadot ,5 years in creation with heeps of top developers sweating buckets and its only a head above SHIB ???
Point is KR1 do not and have not a part of there team that specializes in massaging the market ,Hence the ill timed dumping on the 1.9m ,Other potential investors look at that and Go WOW ,Mega growing NAV and its going to keep going up ...But too many short term red flags So !!! I,m here to make money and so its going into VLRM as that BOD know how to woo the market
Give me the Dynamic Duo ( outstanding talent in this space ) anyday for long term stability over DL & TB ,However are we here to make money or be a fully fledged member of the Blockchain Geek Group ? Seems the market has made its own mind up ,,, KR1 NAV is second to none in terms of pedigree and tech , Will it reflect in the SP ?? not so sure
£80M discount is way too much.
By my calcs listed holdings peeping over £300M in the last couple of hours. Market cap only £218.8M.
Nice to see you here BerrhardLonger. It will all be worthwhile I am sure Fx
By my calcs KR1's NAV is up by 63% since Aug 9 and yet the SP is flat. Very odd indeed.
In last 24 hours Kr1 top performing larger holdings are TIDAL up 62% to £2.2M, VEGA up 18.3% to £10.1M, ATOM up 11.4% to £34.8M, ICP up 9.2% to £6.7M, LDO up 6.9% to £37.5M. Wakey wakey market.
Up again. I have NAV of listed investment plus book value of equity stakes at 211p. Selling at a 25.3% discount.
Up again. I have NAV of listed investment plus book value of equity stakes at 211p. Selling at a 25.3% discount.
Pouring even.
Plenty of fresh powder. Look at the money poring in elsewhere. Plenty of shares roaring. QBT up huge in just a few days. Market is waiting for this to start moving before money piles in. If crypto ends 2021 like 2017 then the NAV here will rocket and the SP should follow. Truck is backed up ready and waiting.
No fresh powder...
It takes two to make a market so seller at 157p is welcome but FFS where are the buyers!
I have NAV of listed investment plus book value of equity stakes at 209.4p right now, so up 4p since yesterday. Seller at 157p. LOL
just realised I am drawn like moth to flames on trusts with discounts!
As well as ICGT I hold Dunedin Enterprise and Oakley Capital all 3 of which trade at large discounts.
Thanks MTB & Phoebus, good points the PE trust I compared it to is completely different with many unlisted investments and some trusts trade at a premium based on management.
Hard to watch this lag behind and drop when BTC and Altcoins such as DOT etc are rising.
GLA
Also most of the assets are hyper liquid and could effectively be sold at spot instantly. Not so for many other micro cap equity funds, many of which have investments that aren't even quoted. Are other crypto 'funds' trading at a discount? I don't think so. Given KR1 is reinvesting in seed rounds of upcoming DEFI altcoins I would argue this should be at more of a premium than other crypto funds. I have current NAV of listed investment plus book value of equity stakes at 205.4p right now whilst Total2 which is the market cap of all cryptos ex-BTC is on the verge of a massive bullish breakout, yet we have some chump dumping a huge amount of KR1 under 160p. Are they completely clueless? 4 years ago at this precise point in the BTC halving cycle cryptos broke out and went completely bananas to the upside. GLA
Yes, lots of investment trusts trade at a discount, particularly opaque PE trusts like the one you have given as an example. However, many trusts trade at a premium where the assets are deemed to be extremely attractive, difficult to source, or management expertise is expected to add value significantly above a market-driven NAV. An example of the first is all of the renewable power inv trusts in the UK. I believe that KR1 could easily be classed in both categories, and hence I see no reason why the discount should necessarily perpetuate.
Adding a new topic here in response to posts on the HL thread (a broker with no price updates from Aquis) about NAV.
@BernhardLonger says - using current NAV it would be £2.10 but languishes at £1.62?
So that is a discount to NAV of 22.8%
I hold ICG Enterprise Trust current price £11.66 which has an audited NAV of £15.23 which is a slightly higher discount than the 22.8% of KR1.
ICGT trades on the main market and has 40 years of trading history https://www.icg-enterprise.co.uk/
So if look upon the KR1 discount as not unusual and an opportunity, it might be even on LSE KR1 would trade at this discount but HL would be able to update the price better :)
BUYLONGSTAYHAPPY