FP says Glance riding high on the cryptocurrency craze
2018-01-15 07:16 ET - In the News
See In the News (C-GET) Glance Technologies Inc
The Financial Post reports in its Saturday, Jan. 13, edition that Glance Technologies is up by 1,000 per cent from late August, shooting to $2 on Thursday from 27 cents on Aug. 24. The Post's Claire Brownell writes that on Nov. 27 it peaked at $3.84. Glance has been public for about a year and posted a 2017 loss of $2.2-million. Glance's move on cryptocurrencies had something to do with the market's love. Glance is one of more than 30 public companies that made blockchain-related announcements or added the word "blockchain" to their name over the past 13 months. Those companies experienced a median stock price increase of 265 per cent. The trend has drawn widespread comparisons to the dot-com bubble of the late 1990s. Canadian mining companies that have made blockchain announcements or become vehicles for blockchain companies to go public through reverse takeovers include MX Gold, Axe Exploration and Leeta Gold, now Hive Blockchain Technologies. GMP Capital head Harris Fricker says a correction will probably weed out many of the companies hopping on the trend eventually, but a select few will go on to massive success. He says, "There will be booms and busts and winners and losers."
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