What is your valuation Roley and what is it based on ? You can't just say a valuation is crazy. I can easily justify the valuation you mention and I wrote some fag packet calculations yesterday if you want to have a read.
I've asked the question several times with no answers :
Friday was buying pressure all day and the price was held ~290p . This can only be done is someone was selling millions of shares because every buy order was being gobbled up at or near the ask price, stopping it going much past 290p
Who was selling and where did they get millions of shares from? If MM's are accumulating to give to the US later, who was selling all day to keep the price at 290p or below?
Im actually confused about Fridays price action. There was a wall of SELLS at 290p all day. it then varied between 280 and 290p. To keep the price down at that level under relentless buying (I was watching on level 2 ) then someone had to be SELLING constantly at that wall to mop up all those buys and not let the price go up.
So my question is simple - if MM's were accumulating for whatever reason, who was SELLING all through the day?
RE: Argo without a Nasdaq is overvalued20 Feb 2021 08:56
Hill18 - you are trying too hard now. If you dont know the ratio of difficulty vs bitcoin price you really should not be invested in this company. Don't look at the number of coins each month, look at the revenue of coins mined x bitcoin price. It turn that frown upside down.
RE: Argo without a Nasdaq is overvalued20 Feb 2021 08:14
hill18 - the halving will affect everyone. Argo are diversifying i by investing in other companies in the DeFi space and I am sure this is something they will continue to do. They do not just mine bitcoin. Even if you are worried about 2 years time, is there a good reason why you would not invest for the potential gains to be had over the next few months.
You seemed determined to be negative here which means you should not invest. Simples.
RE: Argo without a Nasdaq is overvalued20 Feb 2021 07:41
Hill18 - some fag packet maths here : Imagine that ARB doubles (just doubles) its mining capacity to 200 BTC a month in the coming months (which it is planning to do). BTC say is $50K. Thats $10M revenue a month, 120m revenue/earnings a year. Now lets give that a p/e of 20, thats $2.4 billion market cap.
now consider this:
- -They have $25m of bitcoin in the bank currently --Imagine BTC (not hard :-) ) was 10% higher at $55K...thats another $240m market cap at p/e of 20 on to my fag packet analysis - and that gain is 100% profit. -- They open a 200MW data centre in 6-12 months and smash the current mining capacity figures. --Maybe on Nasdaq it gets a p/e of 30... -- The companies they are buying stakes in grow massively also..
Can you start to see why this is actually UNDERVALUED and why we are so excited..
RE: Shares have been held back all day - wonder what it is?19 Feb 2021 16:03
there must have been 5 million+ shares for sale @285/290p all day because with BTC currently 53.7K and ZCASH hitting the highs today etc there is no way this should still be stuck behind 290p ass we have seen in the past. I'd love to know how the MM's they are doing this and where they are getting the shares from?
RE: Shares have been held back all day - wonder what it is?19 Feb 2021 15:26
I of course will vote for this deal as its good for growth.
Could anyone clarify for me - the $17.5m. Does that mean they have already allotted a certain number of shares which were worth 17.5 million at the time the deal was done or are future payments based on the value of the shares at that time so a total of $17.5m is paid out in total.
There of course is a huge difference in those two amounts in the future as the shares have already more than doubled since the deal was announced.
Shares have been held back all day - wonder what it is?19 Feb 2021 15:13
Practically all day there has been a wall of selling in the 280-290 mark - look at the chart its totall consistent al lday. half the volume of yesterday and no volatility at all - this should be flying.
Any guesses to how every single buy order is mopped up cleanly in the 275-290 range all day today - a big seller or new shares issued by the company (via previously announced warrants etc) coming into the market now?
Normally this daily graph is all over the place but its been a very patient 'seller' mopping up the shares without any crashes or the usual treeshakes.
I think you'll find most of the shares in this space are down today in the US - are you going to blame the brits for that too? As if we have any control over the share price and the US investors do... come on..
RE: The importance of American Bulletin Boards to the SP performance of the crypto miners14 Feb 2021 16:17
28jaczar01 - one of the best posts I have read in a long while - excellent analysis and something I've was not aware of before.
I indeed, as recommended, recently joined stockwits and got involved in the ARB discussion there - suggest everyone do the same, even if its just one or two posts. No need to pump or go overboard, just spread the word and get the discussion going - let them make up their own minds based on fundamentals and it should justifyably snowball from there.