It’s certainly been a long summer, and as is typically true, the sell in May crowd called it correct as liquidity dropped to virtually a standstill, and with that, many stocks suffered as share prices wilted. Tap Global PLC suffered far worse than most, with the addition of some unwelcome news, the stock dropped from around 2.5p a share to under a penny in recent weeks as investors capitulated. Until today that is, after a decent rise yesterday, Tap Global PLC has gone gangbusters today! The stock is flying and at last look, was up over 100% on the day – is this a sign that we are in for an Autumn bullrun?
It’s not a second too late for some investors, and it’s great to see liquidity returning in such a manner. At present, it looks as though the rise is just the market correcting itself after the summer slump, but questions are already beginning to arise as investors chatter amongst themselves. Has news been leaked? Is this a pre-placing pump? The fact is no one really knows, we will just have to wait and see.
It’s been a moment of relief for me. Tap Global PLC is a stock that shows great promise. It’s the right product, in the right place, at the right time. What it does suffer from, however, is lacklustre management; they just cannot seem to communicate with investors effectively. If they can finally figure this out, then I honestly believe we have seen the bottom for this share, if not, maybe we will be back here again in six months? Lets hope some lessons have been learned, the CEO dusts off the cobwebs and starts producing RNS’s for the market to digest. After all, how many investors know that the app had a full upgrade over the summer? not many, why? Because they didn’t think to inform the market – again!
Hopefully, the board will find a new Chairman to replace Peter Wall of Argo Blockchain fame. After all, communications seemed to improve somewhat after his appointment. Anyhow, hopefully the time for frustration is behind us and as Peter Wall used to say in his Argo Blockchain days – onward and upwards!
Disclaimer: Nothing in this article is intended as investment advice, and readers should always do their own research. The crypto stocks 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 assume my comments are biased.
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