The trading day has ended, and, unfortunately, crypto and blockchain stocks on the Canadian Securities Exchange performed poorly. Specifically, both Global Blockchain Technologies and Cryptobloc Technologies ended Tuesday’s trading session in the red zone.
But why? Is there a specific reason these two crypto and blockchain stocks ended the day down nearly 10%? Let’s see what we can find out.
Crypto and Blockchain Stocks on the CNSX: June 26, 2018
To begin, we will look at Cryptobloc Technologies, as the stock ended the day down more than the Global Blockchain stock.
- Cryptobloc Technologies (CNSX:CRYP)
Cryptobloc Technologies may be experiencing a string of bad luck right now. What indicates that? Well, the Vancouver-based company made a pretty significant announcement last week, and since then, the stock has been down almost every day on the Canadian stock market.
On June 18, Cryptobloc Technologies, which works on implementing both cryptocurrency and blockchain, disclosed that it would be engaging with JCN Capital. They will be getting the company to lead a marketing awareness program. Following the news, the CRYP stock dropped nearly 14%.
Two days later, Cryptobloc Technologies was still trading in the red zone. On the 20th, the company was silent, but the stock was making noise. It ended the day down 6.67%.
And that brings us to today: June 26. Six days later, Cryptobloc is still trading in the red zone. There have been no announcements today, but considering the news of the marketing awareness program and partnership with JCN Capital is still relatively fresh, one would have thought that the stock would see at least a glimpse of green. It hasn’t.
According to Google Finance, at 3:58 p.m. EDT, Cryptobloc Technologies was trading at $0.055. This means the stock was down 8.33% at the time.
- Global Blockchain Technologies (CNSX:BLOC)
Since June 18, Global Blockchain Technologies has had a bit more luck on the market in comparison to Cryptobloc Technologies. However, that luck didn’t run through to today.
According to Google Finance, at 4:00 p.m. EDT, Global Blockchain Technologies was trading at $0.28. This means the stock was down 8.20% at the time.
When compared to Cryptobloc, the two companies have both recently made announcements, and witnessed drops on the stock market. But, at least Global Blockchain has traded in the green at least once in the past week.
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On June 20, the day that the Cryptobloc stock fell nearly 7%, Global Blockchain Technologies ended the day up 1.35%. Thus making it the better of the two crypto and blockchain stocks.
Crypto and Blockchain Stocks: The Takeaway
How do you feel about the performance of these two crypto and blockchain stocks today? Do you think things will change later on in the week?
Featured Image: Depositphotos/© monsit
