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Poptimist - Given the tiny MCAP and the fact the SP has been depressed for so long I'm guessing this isn't just a case of MMs keeping it down. There is simply so little interest in it whilst it festers in London.
A few months back we had an American investor on this board - Verona(?) I think - they had looked at Argo and decided it was a better bet than Riot or Mara or the Canadians. After about two days they started asking what was wrong with this share? Why was it not moving? What were they missing? Because Verona was used to dealing in highly liquid and volatile US stock. They couldn't understand why inferior Riot would go up 30% in a day (then 20% down the next) whilst Argo would barely move.
But that's the answer here. London is a sh.ithouse market where not much moves. At £20m MCAP it would take almost nothing to rocket this. Unfortunately that's what we get from London - almost nothing. It's a ghost town. A cemetery. If there was genuine and broad interest then the MMs wouldn't be able to hold this back for so long.
Maiden dividend would be an awful thing to do, IMHO.
We should be leveraging Fiat as much as possible to convert into crypto. Converting crypto back into Fiat is insane and also kills growth. If a dividend is all that is preventing an Argo rerate then that just goes to show what an awful market London is.
I'll say again this SP isn't going to rerate until one of three things happen:
1. BTC drives towards $100k
2. Dual listing in US
3. Argo book a nice profit HY/FY
Until then we are not going anywhere fast. Relax. Buy and hold and wait at least one year.
“Bring them here to me,” he said. And he directed the people to sit down on the grass. Taking the five bitcorn and the two ethermilk and looking up to heaven, he gave thanks and broke the bitcorn. Then he gave them to the disciples, and the disciples gave them to the people. They all ate and were satisfied, and the disciples picked up twelve basketfuls of satoshis that were left over. The number of those who ate was about five billion men, besides women and children
Good point, Mathsman. This is an easy hold until at least this time next year.
For those of you who enjoy watching charts like I do we need to hold 13000 to avoid a bearish daily engulfing candle. If it holds then the current run is still on. If not then a test of 12 is on the cards. Above 13850 and there's no overhead resistance until Winter 2017/18 and the ATHs. No wonder the Chinese bounced it hard off 13850!
If anyone wanted to take this over I would have though they would already have done so given the MCAP is only £20m.
The Americans only want bleeding edge kit and most of the Canadians have no cash. Why bother with a takeover when you can buy 2nd gen kit from bankrupt miners at firesale prices just as Peter did with the ZEC miners? Maybe the data centres are worth buying? Maybe there's plenty of capacity. I don't know.