Just a quick update on On-Line Blockchain PLC (LON: ONL). The only UK listed Blockchain company.
There’s all sorts of whispers circulating however, most of them I’ve traced back to their originators. Which means they’re just musings of opinion.
It’s apparent that the SP is wildly volatile, small sells push it down, small buys push it back up. This is day traders who have jumped on the stock, hoping for news while they hold for a day or an hour etc. Now you can trade them or you can hold or do whatever you want. The choice is yours. But if my sources are correct (see below) then the main body of ‘news flow’ is due after their official name change.
Launch day for new name and SP!
What I’ve now ‘sourced’ out today from two separate Nomad contacts is that there’s unlikely to be any substantive news (in their opinion) before the ONL AGM on 15 December 2017. I asked why? To be told that if they were the nomad that would be their advice. Also it appears that the LST are very sniffy on substantive announcements before an official name change kicks in. So I’d expect that the company’s hands are somewhat ‘tied’ by the regulators.
I did have a bit of a ‘gut’ feeling that we may get an RNS this week but having spoken to real people on the ground who know the machinations of all things ‘RNS’ then I bow to their superior knowledge. That means that the ONL SP is going to remain choppy.
So the choice is do you sell, watch, buy, hold or wait until the new year when quite possibly it’ll cost you £1.50p or even higher. I expect these to take a massive leap upwards once the company change their name and the news starts to drop. I just don’t see them ever going back to 40p. Rather yo-yoing between high 60’s/70s-90s. until the name change in 18 days or so. So don’t come whining when they’re in the pounds and you have to pay ‘pounds’ when you could have got them for pence!
In the meantime get researching #Blockchain #CryptoCurrency and be ready for the action. Needless to say ignore the #Luddites who know zippo on the Global #Blockchain Revolution. I’d get researching pronto.
Viva
Daniel
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