It’s Friday, which means it’s the last day of trading for the week. Unfortunately, Global Blockchain Technologies (TSXV:BLOC) was not able to revive itself. The stock performed quite poorly this week, dropping 5% on June 19th, and the company is back in the red zone Friday.
We’re approaching market close, and again, Global Blockchain is down more than 5%. But why? Let’s see if there’s an explanation.
Crypto and Blockchain Stocks: Global Blockchain Technologies
For the second day this week, Global Blockchain Technologies is down more than 5%. According to Google Finance, at 3:59 p.m. EDT, Global Blockchain Technologies was trading at $0.32. This means the stock was down 7.35% at the time.
For those who don’t know, Global Blockchain Technologies is a successful investment company, based in British Columbia, Canada. The company focuses on investing in either crypto or blockchain technology.
Moreover, Global Blockchain Technologies is one of the lead investors in the KODAKOne Platform, as well as the KODAKCoin.
So, the company has a lot going for it. However, the stock of the company seems to have a mind of its own. Sometimes it’s up; sometimes it’s down. One thing we know for sure, however, is that Global Blockchain needs to keep up with making announcements, or other blockchain and crypto stocks are going to surpass it.
On June 19th, Global Blockchain Technologies ended the day down 5%. The next day, the company moved back into the green zone, ending the day up 1.35%. Here we are, two days later, and the Global Blockchain stock is back in the red.
Why do you think the Global Blockchain stock performed so poorly this week? Do you think it’s because the overall crypto and blockchain sector, in terms of market performance, have slowed down a bit the past couple weeks?
Coins on the crypto markets are plunging, so who’s to say there isn’t a similar thing happening to crypto and blockchain stocks on the regular stock markets?
Featured Image: Twitter