NIA asking members to take profits from HIVE Subject: Consider Taking HIVE Profits
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NIA's Hive Blockchain (TSXV: HIVE) hit a new record high on Friday of $6.75 per share for a gain of 812.2% from NIA's suggestion six weeks ago at $0.74 per share. Considering that HIVE's fully diluted shares outstanding are now up to 300 million, HIVE's market cap at $6.75 per share briefly topped out at over $2 billion. NIA predicted at $0.74 per share that HIVE would reach $2-$3 per share by year-end and never expected HIVE to reach $6.75 per share.
The truth is, HIVE has so far raised a total of $83.5 million at an average of $0.924 per share - and has spent $72.8 million to acquire Ethereum mining facilities that NIA estimates will earn annualized gross profits of $31.2 million. This means it will take HIVE about 28 months just to break even on its capital expenditures. NIA sees no reason for HIVE to be worth $2 billion and believes it is still overvalued at Friday's closing price of $4.71 per share. NIA predicts that HIVE will finish 2017 back in the $2-$3 per share range.
Between now and year-end, about 85 million HIVE shares will become free-trading and enter the public float.
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA has received compensation from a third-party for covering HIVE of $60,000 cash. Never make investment decisions based on anything NIA says. This message is meant for informational and educational purposes only and does not provide investment advice.
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