Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Helios and Matheson Analytics Inc (NASDAQ: HMNY) shares are trading higher by $7.20, or over 600 percent, at $8.21 in Monday's session.
The catalyst for the monster rally is news of a merger with Zone Technologies. Interestingly, news of the merger was reported by Reuters just after 6:00 a.m. ET and didn't exert any influence on the share price in pre-market trading.
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In fact, the news was of very little interest to anyone off the open as it traded only 2,800 shares as of 10:15 a.m. What may have set the issue in motion was the significant spike in price an volume after 10:30 a.m., putting the issue on radars across the globe.
Once the buying frenzy was set in motion, the issue moved over $5 by 12:15 p.m. and briefly touched $10 around 2:30 p.m.
The very thinly traded issue had less than 15,000 shares change hands all of last week; It has traded over 7 million shares with about an hour left in Monday's session. The range from last week was from $1.03 to $1.27. Also, the issue has six days of no trading at all (May 17-May 25) as it had received a delisting notice for May 29.
At this time, some traders have been unable to locate stock to borrow in order to short the issue.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.