Once known for McAfee entering as a director to help its securities division, then became crytominer, now embattled company in fraud cases. However at these levels could prove a quick flip especially hitting lower weekly Bollinger as well as getting close the the weekly 100 LR.
Short interest picked up a good amount in the last month or two. Could provide some covering in the next week or two of the million or so shares short last month of 75 million. If a squeeze does happen could see a bag or two at $0.149 entry.
multiple suits againts MGTI, and the value of BTC way down. Is this company going under?
DawgTrading
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@max69, Unsure there could be a continuation of business. Im sure at this point anyone involved prior to the last week or two has lost a lot. However I was interested in is story since McAfee was on the board a few years back and then switched to mining, and now all these troubles places it here at this point. Technically I see capitulation in the market and may go to zero, but I think I have for me a good risk reward ratio for buying at these levels. I bought a few more and am averaging out at 0.1255. Ill probably hold and make a split decision based on price action, but also dont have that much on the line to feel any pressure in wild swings.
DawgTrading
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@max69, They also do have "according to the earnings report in Aug. cant verify this" 160 something BTC's as assets and a few ETH that could be utilized to raise funds for continuing operations if they can get their rigs up and running.
max69
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@petiedawgs, hey thanks for the info. I've held some share is this for about 5years, just been ignoringthem, never sold when it went up. :( Might be still be an opportunity for if they stay in business.