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Just amazing how the price is held down while accumulation continues and how Argo is spread across multiple trading platforms.
There are some folks who want to paint the picture as this concept is either impossible, illegal not possible, however as this thread says, just review Mikes updates.
i have mentioned several times it doesnt matter what you think Argo’s value is. Its what the Market Maker and the institutions/hedgies decide. What was the difference between Argo now and February after the announcement and Argo went to $4.00+ per share. Nothing, they still had to pay for it and build the Helios facility out. The difference between now and then is the institutions are accumulating as retail shareholders are dumping at the same time the price is being held down. When the price was rising in February all institutional ownership sold while holding the price up. Like I have been saying, once the institutions decide they have enough shares the price will be artificially risen and then comes momentum traders.
Well, I know it seems impossible and illegal. Do I have proof, wellll sort of. During the February run up and after Argo published the institutional holdings. Before the run up there was a significant portion of Argo shares held by institutional investors, however a month after the run up most were gone. This on on Argo’s website and your welcome to research this yourself. Just go through the institutional holding reports. The math doesn't lie. This is why I “assume” the same thing is happening now but the reverse. It makes since that a few folks at a time are selling off and the institutions are picking those shares up. Once they have their fill, then we go up. Bitcoon fluctuations have an effect. If you havnt noticed by Mikes reports a subtancial amount of shares are being accumulated via mikes reports. Logic would dictate the stock would rise.
I think you are so wrong here. The institutions are holding it down while they pick off the retail shareholders. Its as simple as that.
Same thing happened whe the institutions were selling in February. They held the price up while retail were buying in.
https://cryptobriefing.com/electric-coin-company-announces-wallet-for-zcash/
I think today’s trading is interesting. Have we finally reached the same story HUT experienced. Approximately 40 days after HUT IPO’d their stock began to increase in value. Over time HUT moved 3 times their IPO value ($5 to $15)
In regards to Argo, the share price was $2.30 the day before the IPO, and then to my surprise dropped to $1.50. I dont know the logic of that move because everyone new the IPO was coming.
At that time Bitcoin was approximately 42k. So I think there is two plausable scenarios. Now that Bitcoin as sitting at the 60k range which is 30% more tah it was when Argo IPO’d the price should be one of the following.
IPO price: Bitcoin 42k Argo at $1.50 -
Bitcoin 60k Argo $1.95 (based on 30% increase in Bicoin price)
or
Pre-IPO Argo was at 2.30 when bitcoin was at 42k
increase by 30% = $2.99 per share
I hope over the next few days we see $3.00 hit and hopefully momentum and bitcoins continued rise will bring an even higher multiple
By Chaeble
RE: % of Portfolio18 Feb 2021 05:12
98 percent of my holdings have some btc and xlm. And a few grand in shares fox and gst.
I found arb or arb found me on the 29th December 31p and day traded it. My last purchase was 208p when it did that V. So pretty much all in now. I have family and friends that are in finance and when I bigged up arb to them they laughed at me circa 60p then. Who’s laughing now eh ?
This is why I know the City will do a campaign of fud against us. Arb is new money new concept and I swear some of them think we actual miners, what minerals in Quebec I can hear them think...... digital gold blood lol
If I’m brave enough and liquid enough my first target sale price is £10. The only thing I will bare in mind is the price of btc if we start retracing to 40k usd per btc I may change that approach, however I can see btc hitting 100k before I see 40k hope so anyway.
Redefining financial freedom never comes easy and I expect a few pitchforks to try and trip us up but can’t see any reason why we can’t hit mcap of riot and Mara.
Hodl for your target prices nobody else’s if you feel it prudent to take some profit and bank it, bank it. They are only losses and profits when you hit the sell button.
GLA
Really good article, thanks for sharing the link. I think institutional investors are very aware ofcthe information he shared, however there is a problem. The retail shareholders own to many shares and the manipulation will continue until the retail investors dump or bitcoin rises to levels where they cant hold Argo down. Oh, chim Chaeble and chuz but buddies for life. Im sure they are going to bring their negative crap.
Funny how Chaeble and Chuz continuously downtalk Argo. and speak to the investment they have mad on Mara and Riot, yet they dont post on the boards they have an interest in. They spend countless hours her and some here are even stupid enough to defend them.
Got this off of stock twits. Didnt Peter say in August that Argo was predominantly held by retail shareholders?
https://stocktwits.com/rakib21/message/404352924
So, I have been trying to determine how Argo will trade in the future, beyond the IPO. For example once Hive IPO’ed it took a couple of months for the volume to increase from 1 million per day to its now 20 million. I am sure there are lots of bots involved with different share swapping algorithms.
However Argo trades across 3 platforms LSE, OTC and Nasdaq. I wonder how this will trade in the future? How will the trading bots be programmed when these platforms are running simultaneously. Anybody have a similar use case?
Nice move in Zcash and I assume the additional bitcoin added above our mined bitcoin was purchased with Zcash, though I personally would have used those funds to purchase miners, however im not running the show. Tommorow would be a good time for some Pluto performance guidance and bitcoin price increase.
I am curious why Argo suddenly rose today. There was a similar rise in Riot so I am assuming the same entities are buying both Riot and Argo.