Straws in the wind 2 Interesting that another high tech investor "guru"beloved by the media "Kathie Wood"had her ARKK investment sell over 1 million shares of Coin at the bottom (around 53$ a share) .Coin shot up last week and "broke out" and her fund lost at least 20-30 million by selling Coin at the bottom,the purchase price had been around 250 $ a share so the fund loss was about 200 million plus just in Coin.
Cryptos are recovering along with the general markets with the Nasdaq up 20% from the low.
So it does look that for now the worst is over.
BNXA will be reporting its June quarterly results presumably within the next two weeks.Hopefully they have not been depleting thier cash reserves too quickly.
Sadly the Twitter missives which appear daily about BNXA are highly selective and dont say anything about cash reserves or whether they were involved in any leveraged investments.
Hopefully the quarterly results aren't too bad ,BNXA stock price is down a lot anticipating that they will be bad ,hopefully once the results are released there will be a relief rally,that's what happened when Blackrock announced the deal with Coin.Strong indication that Coin will survive,much smarter people at Blackrock than Ms Wood or Mr Saylor.