Global Blockchain Technologies Down 5% – Why?

Global Blockchain Technologies

Global Blockchain Technologies – It’s Tuesday, and while some are looking at the crypto market, others are focusing on the stock market. The Dow Jones dropped today, due to Trump’s new tariffs, but what about the Canadian Securities Exchange? How are stocks on that exchange doing?

Well, the short answer is that stocks on the CNSX are doing both good and bad today. An example of the latter is Global Blockchain Technologies. However, here’s the doozy: the Vancouver-based company has had a positive month of June so far, in terms of announcements and partnerships. So why is the stock down 5% as we kick off the 3rd week of June?

Global Blockchain Technologies | June 19, 2018

Before we talk numbers, let’s cover the basics. Global Blockchain Technologies is a Canadian investment company. It focuses primarily on investing in securities of either private or public entities that are involved in either crypto and/or blockchain.

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Now, according to Google Finance, at 2:37 p.m. EDT, Global Blockchain Technologies (CNSX:BLOC) was trading at $0.38. This means the stock was down 5.06% at the time. The stock opened at $0.40 and hit a low of $0.37 at one point during the session. Currently, Global Blockchain Technologies is referred to as a small-cap company, as it has a market cap of less than $200M.

Global Blockchain Technologies

Why is the Stock Down?

As mentioned briefly, Global Blockchain Technologies has had a positive month of June before the decline now. Then again, the company hasn’t made one of its positive announcements since June 7, so perhaps that’s the reason behind the drop. It’s hard for a stock to soar if the company isn’t making any moves, as there are others out there that are.

The last few announcements were on, as mentioned, June 7 and, the one before that, on June 4. On Thursday, June 7, Global Blockchain, who is a lead investor in the KODAKOne Platform, disclosed that the KODAKCoin will be the virtual currency to 6 NBA and NHL arenas in the United States. On June 4, Global Blockchain announced that it is collaborating with Hewlett Packard Enterprise (NYSE:HPE).

The Takeaway

So, you see, Global Blockchain Technologies actually has a lot of positive stuff going on in its world. However, looking at the stock market today, that may not be evident. Staying updated and making announcements is what makes investors excited, so if we want to see the stock climb soon, Global Blockchain may want to roll out some news. It’s been a while.

What do you think?

Featured Image: Depositphotos/© solarseven