BKKT is reporting earnings 2/17 before market open. With BTC recovering and BKKT price cheap relatively speaking to past prices perhaps this can catch a little momentum going into the next week.
Here is a teaser for their earnings they provided a few days ago. Operating at a loss, but that was expected.
Two earning calls ago they mentioned they were in advanced discussions for an Apple deal, perhaps that could come to fruition soon.
Just putting this out there in case anyone else was watching it. Just playing the run-up… without an Apple deal or a gigantic insane earnings surprise I don’t think it has any drastic price movement after 2/17.
I am very very surprised this ran as much as it did in one day. Thought it would hit $5 then settle. It held $6 for a bit until maybe the last 30 mins of trading. Volume today was insane.
From my personal experience, these “bagholder” stocks tend to open green after a day like this, then fizzle and die. Especially on a run with no actual news. HOWEVER, it should be noted that we are now at the breakeven point for shorts according to Mimir bot. Avg shorting price $5.53. I’m not going to pretend like I know how long funds are allowed to hold or how red they are allowed to be. But with earnings coming up perhaps we will see some more covering on the fear of:
A) Positive earning news/earnings surprise
B) Partnership announcement (particularly Apple)
C) BTC recovery
Or maybe today was all the covering and tomorrow will be a dud.
Not sure how accurate this is but IBD is showing 15,000 shares to borrow, down drastically from last week. https://iborrowdesk.com/report/BKKT
They also bought a 10,000 SQ ft office in NYC reported today: x.com
I also want to note that BKKT is a growth company. It’s not a dying company that bagholders are trying to keep afloat “OH SQUEEZE INCOMING HODL TILL MOON!!”. Theoretically, it is entirely possible that one day it will be worth $50+ again. Makes me a little more bullish than I normally would be on bagholding stocks.
Again to reiterate I am just playing a run-up not a squeeze of any sort. Haven’t done enough research to know if a squeeze is in play, but I doubt it just from the float alone. It is very possible this just trades sideways until earnings.
Which also just goes to show how crazy the volume yesterday was, the 57M is up there with some of the volume numbers during the November Mastercard run
This tried to break $5.90 and hold like 2-3 times today but just couldn’t. You can see a Batman pattern on the 1D after the second $5.90 hit around 2 EST, but the price recovered again EOD.
I was watching this ticker most the day, iirc the drop (first big red candle) was at the exact same time as the market drop. Did BTC drop at the same time as well? I’m talking 12:45 EST
It did appear this way. Definitely did see a delayed response in BKKT compared to SPY. Should’ve held my $6.5c instead of rolling to next week’s $7.5 which are down 20% now.
Another high volume day… that’s 4 in a row. Off the top of my head I would assume some short covering, but the amount of shares short has increased as of 2 days ago (Mimir bot is T+2). And shorts are down over $29M (28%) as of 2 days ago.
I’ve pretty much been only watching this ticker the past couple days. It hasn’t had any major trend-breaking drops (intra-day) and would recover strong on each $0.20 dip or so. Until today, when there was one big red candle that took the price from $7.90 into the $7.60 area. This red candle was the same time as SPY drop around 12:45 EST. And then it just bled and hovered around $7.50 for the rest of the day for the most part. Touched $7.10, but closed at $7.38.
Personally, I would have thought this would have stopped 2 days ago or at least had a slower ascent, but it has just kept going. If there is anyone here more versed on SI or TA, I would love to hear their take on this.
I think the movement today is to be expected. Consolidation around the 7 and held pretty well. Hopefully the volume kicks in next week and we’ll see a jump like the previous two days. I’m still bullish on it.
Any thoughts on the movement today? Glad I picked up some calls yesterday on that dip.
I think this definitely has potential for another run up tomorrow based on today’s action, FOMOs and PR.
