Member Info for CaneToad

Volatile - yes. It's broken below 44k on Kraken. Ether also crashed >8%. Something going on again like last week.

Wow, what a spike - came down as fast as it went up. No idea what's going on.

https://www.theblockcrypto.com/linked/117475/microstrategy-takes-its-bitcoin-holdings-to-114000-btc-5-1-billion

@ArgoBull: "Do you know any more about the French Melanion BTC Equities Universe UCITS ETF? I've googled for updates on this but can't see anything recent. Just trying to work out if it is immanent or not."

I contacted them about a month ago and this is what they said: "All the details related to the issuance of the ETF will be posted soon, we will make sure to keep you updated on it."

I guess you can take this two ways: (a) nothing's happening or (b) it's now 'imminent'. Take your pick.

It's difficult to see where this is heading, given the 2020 lows. Fundamentals look rock-solid to me, while technicals are also looking attractive, if you believe that an RSI of 20 means anything. Obviously it's become a falling chainsaw.

@Taverham: "I am at a loss to explain the continuing decline here, any ideas folks?"

It's a mystery to me. The only major change in holdings that I see are from T. Row Price and they are adding...I've been gradually losing faith in the UK markets and have been moving more of my trading to Canada and the US to avoid the blatant dishonesty which seems to be endemic here.

I can't see why any growth company would want to list on the UK markets.

Consensus target price of 24 brokers: 5,895p (83% above Price).
Not a big surprise that II's are loading up while the lemmings are still selling...

It's incredible how the fundamentals of FirstGroup have improved and the share price has followed. From what I see, GOG is also in pretty good shape. Technicals are obviously terrible, but maybe I'll take another punt on this. I think it's going to come good.

@Chriss, still waiting to add to my GOG... tempted to add, but a bit cautious of the market sentiment. I can't see how it's going to improve until the virus is fading.

Rower, what's your point?

Everybody has their own style. I have a diverse portfolio. I actively trade in lots of stocks across lots of sectors while you focus on 1 stock for 7+ years. That's fine. You have your reasons.

My policy is simple. I invest in stuff that I understand. If things change, I reconsider the investment and sometimes liquidate it. That happened with PERE. As with all stocks, I will occasionally jump back in if I see the risk/reward as attractive. I've done that with PERE. People are not oblidged to ask you for permission to trade...

Also, people are entitled to keep their private information private, for safety and peace of mind. Be a gent and don't break the rules of this site.

But I have no intention whatsoever of jumping out of ARB, BTC or anything else. Happy to add if the opportunity arises.

BTC under a lot of pressure at the moment. All of the miners following it, including ARB; I'd have expected ARB to fall more tbh.

@firepisces: I'm happy to hear of the problems that you see.

My point is:

- the company is profitable
- I has been profitable throughout covid
- They have a solid balance sheet
- They have major new income streams coming online; Liquidnet and a Crypto Platform
- It's at the lowest price in 10y
- There were huge buys yesterday; e.g. multiple £8m buys
- Management has bought in at a higher level

What particular concerns do you have? I occasionally see comments here from mysterious people saying things like 'beware of this stock, etc', or 'they understand this stock and it's not a good idea to buy now' but nothing concrete is ever mentioned... I suspect that there is substantial amount of manipulation, e.g. associated with the US hedge fund that 'accidentally' reported a 12% short position....

Compare the current share price to early 2020. There's been no recovery, while the fundamentals of the company have improved significantly. IOF trades on a 6.9 P/E (12m Forecast Rolling), while industry peers trade on more than double this, e.g. Elemtis trades on 17.3 and Elementis made a significant loss last year, but its price has gone up 600% since last year! while Iofina has dropped.

==> Iofina is exceptionally cheap, while revenue has grown and profitability is the best it's been.

@sudnal: Such is life. Seeing buys of £8m yesterday gives me some confidence though; all of the information regarding the crypto development with Fidelity is already well reported. I agree that the RNS was not overly positive; it definitely put a damper on things. The management seem to have a knack of wording RNS statement to disappoint investors...

This is getting silly now. I've added more. Happy to double again if it drops significantly. Limited risk here, but ample upside even if you halve the official broker target.

The average target price from 24 brokers is: 5895.03p (86.97% above Price).

Somebody buying £8m chunks @175p is interesting.

This is at distressed levels, even though the company has been profitable throughout covid. Makes no sense.

The crypto platform with Fidelity and Standard Charted launches in Q4 and will transact BTC and ETH for institutions. Keep in mind that market cap of BTC alone is close to a trillion dollars now, with ETH catching up.

Sounds logical to me. Texas proceeding quickly, no new dilution. He can repay the loan with the IPO funds and BTC being higher. Win-Win situation. Near-term uncertainty reduced.

@Treacle: " I don't think fundamentals count for anything any more"

Reading that comment makes me consider to buy some more put options on the Nasdaq. That's the sought of thing that people say before all of the big crashes... I don't think Cathy's investment style has enough track record yet to convince me that it's more than luck. It's easy to be right in a bull market. Obviously, she's been incredibly successfull so far.

For ASOS, I'm happy to hold this for as long as is required. I'll add significantly once the knife stops falling.