Yes Ender, this is suffering, like many Blockchain companies after the initial global Blockchain/Crypto boom. There are a couple of local companies however who are doing well, but they are not in the majority. I was watching Canadian Blockchain companies a year or more back, many of those that were 50 cents are now 5c to 10c. The space has certainly come off.
The big question though, like the Lithium one, is will we see Blockchain Mark II at some stage in the future ? If so, then how long will it be before that eventuates, and how will some companies survive in the meantime, and what strategies can/will they use to do so ?
This could meander at these levels for 2 or 3 years, regardless of the good news, if the global Blockchain space does not mount a comeback across the world.
It's looking at the moment like one for the true believers. Some say that patience is the key, but ultimately it's revenue. And it may not be helped by the tech boom in the USA, many of the large tech giants who are potential suitors are over-valued and will probably face a pull-back in the near future. Even my most bullish USA based analysts are deciding to sit on large piles of cash in preparation for this, so unfortunately, things could get a little worse for Blockchain companies listed on the ASX in the short term.
TYM is a good company, good people, excellent leadership, good technology, but I wonder if they might up stumps and move from the ASX to a European Bourse like Frankfurt, or do what Updater did and go private.
It's proving to be a tough space to be in at the moment.
They are good people, with top class technology, and we wish them the best.
The ASX can be a cruel place, the Cersei Lannister of global stock exchanges.
Gw
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