That volume represents nearly 30x the average daily volume and is more shares than GCAP typically trades in a full month.The stock continued 17% higher in the after hours on substantial volume, hitting .60.By simply refusing to sell their shares until next week, they defer these suddenly-large tax payments until 2019. So many investors may just choose to “let it ride” until at least late Tuesday or Wednesday. Once they have established momentum, recent crypto stocks have quickly traded up by 5-10x within just days. Five of these stocks had jumped by more than 5x during that those several weeks. When we see supply and demand imbalances like what we are seeing today with GCAP, it creates to possibility of very large moves in just 1-2 days.
When tales of recent crypto riches come up, along with trusted advice urging “buy on the dips” the FOMO becomes too much to resist.
Yesterday at Mox I showed why GCAP is already worth -23 based on its recent crypto trading launch and it prospects for increased crypto trading revenues.