50 cents a share represents a 90% fall from the peak. Assuming the lack of financials are no longer due to accounting confusion in the Crypto asset space, we would have to conclude that there has been a dramatic decline in revenue and asset valuation. The reality is that when AB1 was $4.50 a share, Bitcoin was 95,000AUD and SAND was $12AUD the market was a bit frothy.
Working on the premise that : Animoca's 380 investment are not all total dogs**t AND NFT"s are not tulips AND somebody will actually want to use the metaverse AND someone under the Animoca umbrella creates a popular blockchain game. (The substitution of logical operator AND with OR downgrades the premise obviously.)
So, Bitcoin fell to $23,800AUD -75% and SAND fell to 53 cents -96% and Axie -96% and MANA -95%.
If Animoca fell like it's subs you could expect the price to have hit around 25 cents, however it has had little liquidity on Primary Markets.(Sand still trades $280,000,000 a day). If it was considered closer to Bitcoin then the low would have been around the $1.10 mark.
Note Bitcoin, SAND, Axie and MANA have all risen >100% off their lows.
It would seem the bad financials have been or are nearly priced in. 50-80 cents would seem a reasonable buy area if you even agree with the "OR" premise .
DYOR good luck
AB1 Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
