The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
It all has to even up against buys to sells - we all know that, but MMs can hold stock for a bit if they see a demand and can hoard for a big buyer to guarantee quick and easy commission. That's why some days the buys and sells don't balance on paper but will balance. UT further adds confusion on the reporting as buys and sells between traders cancel out on what is exchanged via buy/sell balance.
I'd expect a bit if selling from some frustrated holders or those making a quick quid having bought in at the recent low levels, but the recovery potential for this company post-China exit is massive. This is one of my keepers. GLA
Just saying it as I see it, there are wiser and more experienced people on this board that can correct anything I've said below that is inaccurate:
VanEck are one of the companies that have had engagement with the previous Crypto ETF schemes and is one of the companies granted permission to get involved with spot ETFs yesterday.
They also hold ARBK in their ETF, their ETF has the symbol DAPP:
Link: m.etfchannel.com/symbol/arbk/
So it looks to me that Argo is a direct beneficiary of ETFs prior and now Spot via DAPP (VanEck ETF) and also an indirect beneficiary of BTC and other crypto currencies going up in value and improving ARBK/ARB returns.
And these have just come in, look like buys to me:
Date Time Trade Prc Volume Buy/Sell Bid Ask Value
10-Jan-24 08:11:12 20.00 500,000 Unknown* 20.00 21.00 100.00k O
10-Jan-24 14:53:55 20.10 500,000 Unknown* 20.00 21.00 100.50k O
10-Jan-24 14:46:19 19.60 500,000 Unknown* 20.00 21.00 98.00k O
10-Jan-24 16:17:54 20.00 500,000 Unknown* 20.00 21.00 100.00k O
10-Jan-24 11:11:11 19.75 1,000,000 Unknown* 20.00 21.00 197.50k O
Is one ARBK share worth equivalent to 10 ARB - so is that USD 0.28 (so 28 cents) for one ARB which is roughly 22p.
Potentially if ARBK stays stable we should open at 22p Ask tomorrow.
Just my mad witterings - nothing to see here :)
I know you have to take this LSE reading of the volume data with a pinch of salt as it's often poorly collated but this is interesting:
# Trades 1,070
Vol. Sold 4,347,180
Sold Value £860.81k
Vol. Bought 9,561,792
Bought Value £1.92m
Keep your eyes out for the late trading info posted after the bell today, that will help to see what the mood is. My view is that MMs are leaving the door open at low pricing for friendlies to get in on the cheap prior to SEC green light and the subsequent jump