49.4 F
New York
Monday, November 30, 2020

Understanding Recent Action at Global Blockchain Technologies Corp (OTCMKTS:BLKCF)

Must read

Yum! Brands Inc. (NYSE:YUM) Recent Earnings Shows Major Concern

Yum! Brands Inc. (YUM) shares are trading at lower $106.61 and the avg recommendation for the stock is Moderate Buy, while the current analyst...

Dover Corporation (NYSE:DOV) is Waving the Bear Flag

Dover Corporation (DOV) shares are trading at lower $124.12 and the avg recommendation for the stock is Moderate Buy, while the current analyst price...

BorgWarner Inc. (NYSE:BWA) is Gaining Momentum on Earnings Catalyst

BorgWarner Inc. (BWA) shares are trading at lower $39.11 and the avg recommendation for the stock is Moderate Buy, while the current analyst price...

Taoping Inc. (NASDAQ:TAOP) Stock is Soaring, Here is Why

Taoping Inc. (TAOP) shares are trading at higher $3.31. To add more color to this target, the company’s high over the last year is...

Global Blockchain Technologies Corp (OTCMKTS:BLKCF) shares recently found support around $.25 per share, just as the global cryptocurrency and blockchain space began to find support, as evidenced by a sudden jump in the price of Bitcoin. This is an interesting time for stocks in the cryptocurrency space. This particular stock is quite interesting because the company just came out with a potentially landmark announcement right at a time when the larger space is at such an interesting crossroads.

Specifically, the company just announced that it is launching a service layer technology called Laser. According to the release, “Laser works by operating on top of any existing blockchain network and optimizes its functions – which includes the ability to operate with other blockchains. Laser with these new and unique features seeks to play a central role in the growth of all Blockchains by for the first time allowing interoperability between Blockchains.”

Global Blockchain Technologies Corp (OTCMKTS:BLKCF) frames itself as an investment company providing investors access to a basket of holdings within the blockchain space, managed by a team of industry pioneers and early adopters of all major cryptocurrencies.

GBT is focused on streamlining the current arduous, lengthy and complicated process that interested investors need to undergo in order to gain exposure to the cryptocurrency space with a view to becoming the first vertically integrated originator and manager of top-tier blockchains and digital currencies. GBT is listed on the TSX Venture Exchange and its common shares trade under the ticker symbol \”BLOC\”.

According to company materials, “Global Blockchain Technologies Corp. is an investment company providing investors access to a basket of holdings within the blockchain space, managed by a team of industry pioneers and early adopters of all major cryptocurrencies. GBT is focused on streamlining the current arduous, lengthy and complicated process that interested investors need to undergo in order to gain exposure to the cryptocurrency space with a view to becoming the first vertically integrated originator and manager of top-tier blockchains and digital currencies. GBT is listed on the TSX Venture Exchange and its common shares trade under the ticker symbol “BLOC”. Other information relating to GBT is available on SEDAR at www.sedar.com as well as on the Company’s website at www.globalblockchain.io”

Find out when $BLKCF stock reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

As noted above, stocks in the cryptocurrency space have started to find renewed interest in recent days. This particular example has started to see some powerful catalysts, including its recent move, which is extraordinarily ambitious.

“Having many different currencies is actually very good for the crypto world”, says Shidan Gouran – President of BLOC. “Each one has its own attributes that are just as unique as each of the distinct user bases out there. Now that they can be transacted across blockchains, transactions between these currencies can occur as though you were trading US dollars for Euros.”

“The availability of computing resources is a key concern when it comes to running a stable blockchain”, commented Steve Nerayoff, Chairman of BLOC. “With Laser, we will be addressing this concern with a transparent and lucrative compensation structure for full node operators – which will boost the performance of existing blockchains and propel the Laser service layer that will bring them all together.”

Traders will note 29% piled on for shareholders of the company during the trailing week, a bounce that has taken root amid largely bearish action over the larger time frame. Furthermore, the stock has seen a growing influx of trading interest, with the stock’s recent average trading volume running 24% above the average volume levels in play in this stock over the longer term.

Earning a current market cap value of $112.76, BLKCF has a significant war chest ($3.1M) of cash on the books, which compares with virtually no total current liabilities. BLKCF is pulling in trailing 12-month revenues of $30K. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 1508.6%. You can bet we will update this one again as new information comes into view. Sign-up for continuing coverage on shares of $BLKCF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $BLKCF, either long or short, and we have not been compensated for this article.

Latest article

Looking Into the Buzz Propelling Mind Medicine Inc (OTCMKTS:MMEDF)

Over course of the past couple of months, psychedelics-based medicine manufacturer Mind Medicine (MindMed) Inc (OTCMKTS:MMEDF) has seen its stock made massive...

The Last Few Sessions Have Adial Pharmaceuticals Inc. (ADIL) Soaring

Adial Pharmaceuticals Inc. (ADIL) shares are trading at higher $1.89 and the avg recommendation for the stock is Moderate Buy. To add more color...

Boqii Holding Limited (NYSE:BQ) Stock is Soaring, Here is Why

Boqii Holding Limited (BQ) shares are trading at higher $6.08 and the avg recommendation for the stock is Moderate Buy. To add more color...

CIT Group Inc. (CIT)’s Stock is Jumping, Here is Why

CIT Group Inc. (CIT) shares are trading at lower $34.99 and the avg recommendation for the stock is Moderate Buy, while the current analyst...

Can We Expect More Volatility From Venator Materials PLC (VNTR)?

Venator Materials PLC (VNTR) shares are trading at lower $2.27 and the avg recommendation for the stock is Moderate Buy, while the current analyst...