BOOM: Argo Blockchain 2026 bond collapse screams at you the shares are worth 0p
By Tom Winnifrith | Friday 11 November 2022
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
The bond market is nearly always a better guide to the value of equity than the equity share price since the latter – in situations of distress – is largely driven by bulletin board morons in denial who are trading the stock while institutions are unable to sell large positions so just sit there like rabbits in the headlights waiting for the end. So there are some folks who reckon that buying Argo Blockchain (ARB) shares at 8.5p giving a market cap of £40 million is smart
Premium content is for paid subscribers only
ShareProphets is reader-supported journalism
Become a member starting at £6.99 per month for all articles, the Bearcast, and our seven year archive.