The wise investor |  Bitfarms founder liquidates shares

The wise investor | Bitfarms founder liquidates shares

Every Sunday we highlight financial and stock market news that may be useful to the investor, but may have gone unnoticed.

One of the Bitfarms co-founders sold a million shares of bitcoin miner Brossard earlier this week.

Emiliano Grodzki made his trade on Monday. He is CEO and member of the board of directors of bitfarms. He still has 6.6 million shares left in his account. Shares of the company have been on the decline since peaking at $10 last year. The stock closed the week at 86 cents in Toronto. Founded in 2017, Bitfarms made the leap to the stock market in 2019. The shares have essentially returned to their original price of three years ago.

The title of nanoscanning It has fallen sharply since financial results were released in mid-November, and this drop in shares of the Montreal graphene producer reflect the typical behavior of the impatient small retail investor looking to pocket a quick profit, according to portfolio managers Charles Marleau and Bill Mitchell, from the firm Gestión Palos.

“For long-term, patient investors like us, the comments made by executives during our recent conversations with them confirm that the company’s growth potential remains significant and that the strategic plan for the next five years is sound. We take advantage of the recession to buy even more shares ”, they point out in their weekly financial letter.

an administrator in WSP You just bought almost $100,000 worth of shares in a Montreal engineering services firm. Birgit Nørgaard bought a block of 600 shares on November 17. She paid a unit price of $159.47. She has been a member of the WSP Board of Directors since 2013.

opsens remains unanimous on Bay Street, but an analyst adjusted his rating on Tuesday after the Quebec-based medical instrumentation company released its year-end performance. Rahul Sarugaser of Raymond James still suggests buying the stock, but with a little more restraint. His suggestion simply changes to “buy”, whereas before it was a buy strong. This expert continues to show great confidence in the commercial potential of Opsens new guidance for catheter-based aortic valve replacement procedures. He believes, however, that the stock will fluctuate in the near term given the macroeconomic backdrop that is putting pressure on valuation multiples in the medtech sector.

“As some outlets begin to announce the death of bitcoin again, it is important to remember that this is not the first crisis in the industry. Each time, bitcoin has risen more strongly, ”says Martin Lalonde, a portfolio manager at Rivemont, a firm that, in particular, manages a cryptocurrency fund.

“No one doubts at this point that 2022 will be a disastrous year for the mother of cryptocurrencies. However, when she looks at the data, when in the past has it made sense to invest in the asset? As we said earlier, this evidence is only retrospective,” she adds in her weekly financial letter.

The Chairman of the Board of Directors of Stingray just bought nearly $615,000 worth of shares in the Montreal music service provider. Mark Pathy bought a block of 125,000 shares on November 16 at a unit price of $4.90.

The Canadian Securities Administrators saw fit to warn investors earlier this week against trading crypto assets, “which involves a high level of risk that may not be suitable for many of them,” especially individual investors. . “In general, the value and liquidity of crypto assets is very volatile,” she says.

“Unlisted crypto asset trading platforms that Canadians can access may not have essential safeguards in place to protect investor assets against loss, theft or misuse. »

Quebec titles of CGI, 5N More, Underground Y Uni Select it hit a 52-week high on the Toronto Stock Exchange this week. Instead, Guru, BMTC, hexo Y bitfarms hit a new 52-week low.

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