RE: Hive Blockchain9 Nov 2021 19:49
Caddor38, regarding your info on the comparative volumes of Hive and Argo on Nasdaq.
When you take into consideration their comparative times since Nasdaq listing (it typically takes some time for new listings to gain market awareness and hence traction on their trading volume) and also the respective USD monetary expenditure for the volume of traded shares then you will find that a rather different comparative picture of these two stocks gets painted as follows:-
1. Hive started Nasdaq trading on 1st July and volume in their first 3 months of trading was typically in the 3 to 5 million shares range. Only in the past month (since mid October) of Hives trading has their volume increased with typical days of around 10 million shares and up to around the 20 million you mention has been traded on just a few peak days.
Whilst Argo commenced trading 3 months later on 28th Sept and has therefore been live on Nasdaq for only around 6 weeks with daily volume so far being around the 1 to 2 million that you have stated.
2. Taking the trading volume outlined In item 1 above you will find that the monetary expenditure per day for Hive shares in the first 3 months of their Nasdaq trading when their share price was mostly at around the 3 to 4 USD price is therefore in the range of 9 to 20 million USD. Only in the last month does this USD monetary expenditure value significantly increase as their trading volume and SP has increased.
As for Argo, with its SP mostly in the range of 16 to 18 USD since the Nasdaq trading commenced, this therefore means that their USD monetary expenditure per day is in the range of 16 to 36 million USD.
So that very interesting to see that USD monetary expenditure in early period of trading on Nasdaq is actually higher for Argo compared to Hive ……I would suggest that it bodes well for Argo once their market awareness on Nasdaq picks up in the coming month or so…..
Oh hang on a minute I think that increased market awareness on Nasdaq could be happening right now if I take another peak at the ARBK price and volume we have seen so far tonight despite the BTC mini dip happening :-)