Cryptanite Working With Codius: After months of being benched, Codius is back. Now, most people know that. However, what may have gone under the radar is the fact that a Colorado-based blockchain company will be helping with the open-source platform.
Not a lot of people know this, which could explain why the Cryptanite Blockchain Technologies Group stock is plunging a week after the partnership was announced. I don’t know about you, but considering how immensely popular Codius is, I would have suspected this partnership to do wonders to the NITE stock—but it didn’t.
Cryptanite Working With Codius: The Announcement
Last week, on June 19, Cryptanite Blockchain Technologies announced that it entered into a partnership with Codius. Specifically, Cryptanite will be working on hosting capabilities with the open-source platform that is powered by the Ripple blockchain.
Speaking of the partnership, Cryptanite CTO Henry Duong said that the Boulder-based company is “one of the only public companies” that is dedicated to “offering Codius hosting services.”
Other Cryptanite Blockchain Technologies News
The company has a lot going for it. In fact, in terms of announcements, Cryptanite has shined this month.
On June 20, one day after news circulated of Cryptanite working with Codius, the company disclosed that it had elected its new president: Keith A. Turner. Again, this is a move on the company’s part that I would have suspected would have benefited the NITE stock. Why? Because Turner has “extensive experience as an investment banker and negotiator” and Cryptanite Blockchain Technologies believes this will “bring immediate value to our shareholders.”
Neither the news of Cryptanite working with Codius, nor the news of the election of Turner did any good to the stock. Fast forward a week, and Cryptanite can be seen plunging on the Canadian Securities Exchange.
Cryptanite Blockchain Technologies: The Stock (CNSX:NITE)
No matter the partnerships that Cryptanite announces, it’s clear that the NITE stock has a mind of its own. Or, perhaps investors aren’t as thrilled about the news as one would have expected.
>> Crypto and Blockchain Stocks: Global Blockchain Technologies
According to Google Finance, at 11:06 a.m. EDT, Cryptanite Blockchain Technologies was trading at $0.14. This means the stock was down 20.59% at the time. As a small-cap company, Cryptanite Blockchain has a market cap of 7.51M.
Cryptanite Working With Codius: The Takeaway
How do you feel about the news of Cryptanite working with Codius?
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