The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
He just needs to draw a wavy line from 3.5p on 21st July up to £1 sometime in the middle of next year. I am happy for him to stop the line at £1 though this will probably be too conservative. It is best to downplay these things with the English crowd so I've heard.
Well played, Mathsman. That's the spirit.
For all its faults, Argo is the main name in the UK as a pure crypto play. If we can get all the non-Dinosaur investors from the UK invested in Argo then we just might be able to get some Nasdaq style price action.
Thank you IAR, I am sadly very much an amateur gobsh,ite.
That said, this is the digital age and as individuals there is a lot we can be doing to raise awareness. Eventually if the share price keeps rising and we keep banging on about this all over the internet then the dinosaurs will take notice. I have a script which I repost every hour or so on stocktwits. I will revisit the Stocko thread every day and bump it (because I am assuming the decrepit Stocko geriatrics will ignore it). And today i have fired off emails to Nasdaq and Diginex which I expect will be very high priority for them both. They will both be firing out luxury corporate welcome packs to me ASAP in anticipation of earning a slice of my huge capital.
Good comment, Mozax. With regards to timing I find the attached chart helpful. When the price diverges significantly away from the 200WMA and the blobs turn red then it is time to sell. It is predicted that this will be in Nov/Dec 2021. Though that said, history never repeats exactly though it does rhyme.
https://www.lookintobitcoin.com/charts/200-week-moving-average-heatmap/
Fair points, Oilbagger but I wonder why the issues you point to are problematic for Argo but not for Riot or Mara? If the answer is that we are so small we cannot solve the issues you highlight then that truly is a parlous state for us to be in!
I just posted this on the discussion boards at Stockopedia. Feel free to join the discussion if you wish:
"Apologies if there is already a thread on this topic. I did scroll down for a few minutes but was unable to find one.
The bull case for investing in this sector is the anticipated crypto bull which is expected to run from now until November/December 2021, the institutional buy in of crypto assets by the likes of Paul Tudor Jones, Visa, Mastercard etc, and the political acceptance of bitcoin as highlighted by the Federal Court declaration that bitcoin is officially "money".
Looking around the UK universe there aren't many blockchain stocks to choose from. One I am invested in personally is Argo Blockchain (ARB). This is a very low debt company with 720PH of bitcoin mining capacity which resulted in the mining of 165 bitcoin in July at a mining margin of 34%. They also have 280ms of ZEC hashrate which is approximately 7% of global ZEC hashrate. Both BTC and ZEC have had very strong months and the consensus is that this is just the start of a bull run which could result in $100k BTC.
Interestingly, Argo lags behind its US contemporaries Riot Blockchain (RIOT) and Marathon Patent Group (MARA) both of which produce significantly less crypto assets every month but are worth many multiples of their poor UK cousin. Riot surrently only mines 50PH though this is set to rise to 566PH when new machines are installed yet its MCAP is $120m. Marathon only mones 25PH rising to 250PH this year and is valued at $60m. Meanwhile Argo on 720PH + 280ms ZEC is worth only $20m
I am beginning to think the UK market does not like blockchain and crypto stocks! I welcome your comments here."
Just seen a potentially interesting crypto opportunity and thought I would share it with you guys. I am still researching it but it does look potentially tasty in the current environment.
Diginex, an Asian crypto exchange have agreed a reverse takeover of an American company called 8i Enterprises ($JFK) for $300m to be completed in September. This will make them the first crypto exchange to be listed in the US.
I assume the $300m takeover will mean that this is their MCAP on day one?
If so I am wondering what value to place on the Diginex business right now? $300m is not at all big by US standards.
Should the DD check out this is just the kind of crypto infrastructure stock i believe our board should be investing in to get us that multiplier status we require. We are a crypto miner first and foremost but we use that crypto capital to invest for growth a la Berkshire Hathaway (or Agronomics less successfully).
Spitfire - I am trying to lobby the board to do what i think is best for the company without questioning their integrity. There may be good reasons why they have not as of yet fulfilled the requirements for listing or transferring to the NASDAQ. I am sure there are people on this board more knowledgeable than me on these issues and i await their input. Meanwhile I would be grateful if one of the few shareholders who have Peter's ear ask him why he has not got this done yet.
I understand he doesn't want to list in Canada and agree this would be a bad idea given the dodginess of HUT8 and BITF.
NASDAQ is an entirely different story however. MARA and RIOT are both storming ahead. I need this specific issue addressed ASAP by our board.
Aesopian - According to the listing document to list on the Nasdaq Capital Market is is $50k to list initially and $43k a year in listing fees.
Can't see what the problem is there. We go from a £20m company to a $100m company for $100k. Good business surely?
Apparently listing on NASDAQ would leave us open to be shorted. I can't see the problem really. Riot had a 21% short float when I first mentioned them on here at $2. They are now above $4 and still 19.5% of the float is short. Those shorters are sitting on major losses.
Who the hell shorts a cash (bitcoin) generative $20m company anyway?
So in the first 10 minutes of the PRE-market opening the two main NASDAQ crypto miners are up 7.5% and 6% respectively compared to BTC up 2.5%.
Argo has been open for half a day and has barely moved.
Now valiant Argo shareholders, tell me why a micro crypto miner would NOT want to list on the NASDAQ?
I have sent an email to NASDAQ:
Good Morning,
I am a small private investor located in the UK invested in a micro crypto miner called Argo Blockchain (LON:ARB). I am also a shareholder in Riot Blockchain listed on your exchange and after seeing their excellent performance this year am lobbying the Board at Argo to get a NASDAQ listing as soon as possible.
I have read through your listing document and several pages on your website and it doesn’t appear to be a very difficult process. I am therefore somewhat concerned that the Argo board have not yet relisted.
I know this is probably a strange request but is there anything you think I should know that will aid me in my fight to get Argo listed on your exchange?
Regards
Bitcoinmoonboy AKA Billfunk1
https://www.nasdaq.com/solutions/list-your-company
https://www.nasdaq.com/solutions/why-switch-your-stock-exchange-listing-to-nasdaq
It appears that a transfer of listing is also an option according to the NASDAQ website. From the listing document this would appear to take only 6 weeks.
I see a potential problem:
"Compensation of Executive Officers
The company is required to have a compensation committee
consisting solely of independent directors and having at least
two members. In addition, Rule 5605(d)(2)(A) includes an
additional independence test for compensation committee
members. The compensation committee must determine, or
recommend to the full board for determination, the
compensation of the chief executive officer and all other
executive officers.
Now. Some on here have commented on what appears to be the excessive salaries of some of the Argo staff (certainly for previous years). Could it be that they don't want a NASDAQ listing because they want to avoid the compensation committee? Questions on a postcard sent to Peter Wall.
https://listingcenter.nasdaq.com/assets/initialguide.pdf
Come on then. I will bite the bullet and do my own research on a US listing. RIOT are listed on the NASDAQ so i will look at them. Straight off the bat there appears to be three tiers: Nasdaq Global Select Market; Nasdaq Select Market; Nasdaq Capital Market.
I'm going to work on the assumption that we will list on the Nasdaq Capital Market as we currently fulfill the financial and liquidity requirements to do so. We would need a share price of $4 which would necessitate us reforming our float to approx 6 million shares in total. This would cost us $50,000 entry fee and $43,000 annual fee.
So let the hive mind of Argo investors pick holes in that. I can't see what the problem is. Seems like a small price to pay for an overnight 5 bag.
sn88 - My very limited understanding is that some US markets would require us to reform our float so we had fewer, larger shares. Instead of 297 million shares at 7 cents, we might have 20 million shares at a dollar.
Happy to be corrected and educated on this.
natnrg - It's not a stupid question. I doubt many of us understand the ins and outs of a dual listing. I have asked the BOD several times over the last few months to draw up a list of potential US markets with their respective costs and hurdles so we can take a look. I know Peter has spoken to shareholders and has stated a dual listing is something he is looking into but I am concerned that there has been no movement.