While Anything Is Possible I Don't See .10As a drop price. So far the push back and low values seem to be .15 and the top end seems like .165. My intuition is telling me a .15 to .17 price range is most likely going to be it for a bit until it breaks the .20 level and legs up above it.
The company has a lot going on and today's press is reflective of that, the financials are extremely solid and there seems to be solid ongoing revenue a bit of dips in some areas but a need to continue to legitimate crypto and crypto offerings and services.
This company appears to be very solid and reliable on the block chain tech has a fair size of tokens under custody and a strong user clientele base along with business partners like Napster. Additionally, there are no debts at the current time and as mentioned lots of activity around the company.
Due to all these facts I will be hard pressed to see the value drop below .15 however anything is possible and if it does it will be quite temporary and readjust to the .15 plus range.
Right now it remains a buyers market and the drop in price can be attributable to several things one of which is definitely people possibly going a bit defensive due to the current market conditions hit by high and persisting inflation rates coupled with all the stuff going on globally. But for those jittery on inflation the rates will continue to get chopped this year and if people are reacting too heavily on the stupidity of the US not haven cut rates this month they will surely cut them this year. I think it was stupid to hear that because there were more jobs than expected 180,000s projected was 270s k if I am remembering correctly doesn't mean the rates should not have been cut a quarter percent. What is stupid is what I read after that the Feds will aggressively cut in November. As they stupidly raised it it would have been better to have cut a quarter percent now just like Canada and Europe did wait and see how that affects the production cost of labor being afraid things will heat up too fast (I am always rolling my eyes on this) and then make gradual cuts not not make anything and then cut more than a quarter percent by however much later in November as to what I read.
In any case rates will get hammered my guess by now more than 3/4 percent for this year. There will be tax loss selling coming soon as well so if the sp is down moving into then it will not likely tend to move up all that much so my .30 to .50 is quite aggressive pragmatically speaking but who knows although not too likely anything is possible. We should be able to see .20 to .30 on the year as this is factoring all the vs with rates that should have never been raised as well as moving into tax loss. If it stays below .20 I don't see worse than .15 to .17 so it is just that type of year sadly. I call it a forgone conclusion of a write off but let's see maybe the markets may stun.