Investors have been met with a sea of red again today as the Crypto stock sell-off continues, momentum has fallen away in recent weeks, as investors’ appetite for risk has slowed. With many stocks still trading at significant multiples to NAV, those still holding must have growing concerns. But as we have seen before, the mood can change in a heartbeat and with ever more bullish news coming from the US, its likely we have not seen the Bitcoin top yet this year, and with the autumn trading season edging closer, investors will be looking for stocks and crypto to be running hot as we approach the year end.
It has been a fairly miserable start to the week for my portfolio so far, with Tap Global PLC suffering a significant sell-off yesterday following news that Peter Wall will be stepping down as Chairman. It appears that the stock may have found its bottom for now, with fewer sellers coming forward, as the stock plummeted to lows of 1.1p per share. Some positive news is needed from the team, in order to sure up investor sentiment, maybe now would be a good time to announce that tasks from the roadmap have finally been completed? This company has been the ultimate jam tomorrow stock since listing a couple of years ago, now is the time for the team to show what the are made of.
KR1 has been relatively flat, all things considered, although it is showing a 3.6% decline on the day. This is mainly due to fluctuations in the spread, which can be quite wide due to lower-than-usual liquidity. This is quite the outlier among the treasury type stocks, given that it is trading below NAV, its surprising that the wider market has not cottoned on just yet, especially seeing some of the crazy valuations given to the likes of the Smarter Web Company. The market will always find the true value of any given stock eventually, so for now i will continue to add to my position.
Next up is Vault Ventures PLC – a stock that has been equally frustrating for investors as the placing shares continue to churn. With such a small market capitalisation, I have little to worry about with this stock at present, and given the board has recently added approximately £ 300,000 of their own money buying stock, I would like to think they have a few tricks up their sleeve. With its combination of both cryptocurrency and AI investments, its appealing to a wide audience, which you would like to believe, will eventually take the bait. They have promised us three AI product launches per year, and with the ETH/SOL treasury to power things along, i think investors will be quite pleased come Christmas.
Cykel AI PLC continues its grind lower. Thankfully, this is a smaller investment of mine and one that I am happy to take or leave. The involvement of ex-Argo Blockchain man Jonathon Brixby will be seen equally as bullish or as a red flag, depending what camp you sit in, whatever happens, its one to watch, and with such a small amount of my capital involved, i am happy to take a chance on this one.
Hopefully, there will be a turnaround of fortunes later in the week. Please conduct your own research before entering into any trades, especially those involving crypto-based stocks.
Disclaimer: Nothing in this article is intended as investment advice, and readers should always do their own research. The cryptocurrency sector is highly volatile and can move rapidly in both directions. I may be invested in some of the stocks I mention in these articles, so please note that my comments may be biased. Everything is my opinion, so please fact-check.
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