Your assessment re BIT and AHZ based on market cap is fundamentally wrong.BIT is basically trading on ‘Greater fool theory’.
The greater fool theory states that the price of an object is determined not by its intrinsic value, but ratHer by irrational beliefs and expectations of market participants.[1] A price can be justified by a rational buyer under the belief that another party is willing to pay an even higher price.[2][3][4] In other words, one may pay a price that seems "foolishly" high because one may rationally have the expectation that the item can be resold to a "greater fool" later.
https://en.m.wikipedia.org/wiki/Greater_fool_theory
AHZ is trading on FA and the FA shows this company will not making any profit over the next several years if not ever.
AHZ Technical Analysis, page-27
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Last
$15.30 |
Change
-0.380(2.42%) |
Mkt cap ! $323.4M | |||
| Open | High | Low | Value | Volume |
| $15.70 | $15.94 | $15.02 | $290.0K | 18.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 280 | $15.10 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $15.57 | 779 | 1 |
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| Last trade - 16.10pm 19/08/2024 (20 minute delay) ? |
| AVR (ASX) Chart |