The Chart of the Day belongs to the Grayscale Bitcoin Investment Trusts (GBTC). Since the Trend Seeker signaled a buy on 1/9 the stock gained 26.22%.
Investment Objective & Approach
GBTC’s investment objective is for the value of its Shares (based on BTC per Share) to reflect the value of Bitcoin held by the Trust, less fees and expenses.3 To date, GBTC has not met its investment objective and the Shares quoted on OTCQX have not reflected the value of Bitcoin held by GBTC, less GBTC’s expenses and other liabilities, but have instead traded at a premium or discount to such value, which at times has been substantial.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 8% technical sell signals
- Negative 36.55 Weighted Alpha
- 58.03 loss in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 12 new highs and up 50.74% in the last month
- Relative Strength Index 94.21%
- Recently traded at $12.18 with 50 day moving average of $8.98
Fundamental Factors:
- Market Cap $2.14 billion
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- The individual investors following the Trust on Motley Fool voted 133 to 35 for the Trust to beat the market
- 80,080 investors are monitoring this stock on Seeking Alpha
Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives over the next 72 hours.
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
/Tesla%20Inc%20tesla%20by-%20Iv-olga%20via%20Shutterstock.jpg)
/Broadcom%20Inc%20logo%20on%20building-by%20Poetra_%20RH%20via%20Shutterstock.jpg)
