BIG Blockchain Group (CNSX:BIGG) ended today’s trading day down 15%. What happened, though? Did the Canadian company announce something that didn’t sit well with the marketplace? Let’s see what we can find out.
BIG Blockchain Group Takes a Tumble
For those who don’t know, BIG Blockchain Group is a company that provides both law enforcement and the government with crypto-agnostic search and analytics solutions. BIG also provides these solutions to the financial sector and the retail sector. The solutions that the BIG Blockchain Group provides companies with help them monitor crypto transactions at a forensic level. The company had a relatively busy April, kicking off the month by signing an exclusive Japanese Territory Agreement with Blockchain Next Corporation. Also in April, BIG Blockchain announced that its common shares traded in the U.S. are Depository Trust Company eligible. The common shares under the ticker BBKCF were made eligible on April 11, 2018.
Now it appears BIG is going to be just as busy in May. Today, BIG disclosed that it will be working with ATB Financial. Why? According to various reports, so that BIG Blockchain Group can look into “opportunities around risk assessment” connected to “crypto mining client activity.” Under the terms of the agreement, Canada’s ATB Financial will use BIG Blockchain’s security tools to look at the various operations of cryptocurrency mining companies. The CEO of BIG Blockchain, Lance Morgan, said the company is looking forward to working collaboratively with a respected institution such as ATB Financial.
Despite both BIG and ATB Financial being excited about this collaboration, the BIGG stock still tanked on the stock market today. BIG Blockchain Group ended the session trading at $0.42. This puts the stock down 13.54%.
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The BIG Blockchain Takeaway
Were you pleased with the announcement? If so, were you surprised to see the BIG Blockchain stock end the day in the red? Let me know below.
Featured Image: Twitter
