After watching the June 2019 Stock Challenge from afar, member ‘avispa‘ has officially made his move into first-place! Member ‘Brice‘ has now slid into second, while member ‘Rainendown‘ continues to hang on in third-place. It looks like Integrated Ventures Inc. (OTCQB: INTV) has done more than make up some slack for avispa—Integrated Ventures took home the biggest breakout of the day today, rising 52.12% from $0.12 to $0.19. As a technology holdings company with a focus on the cryptocurrency sector, Integrated Ventures has no doubt benefited from Bitcoin’s latest parabolic rise.
Via Market Watch,
“The world’s No.1 cryptocurrency [Bitcoin] rose to its highest level in about 17 months Wednesday, extending its rally to nearly 60% in June so far.”
The article goes on to say that as Bitcoin’s price rises, so too do its investment volumes.
“Michael Moro, CEO of digital currency trading platform Genesis Global Trading, said ‘volumes are 2x to 3x higher than where we were 12 months ago,’ in emailed comments.
‘While this rise in volume has come from increased activity among our usual buyer base of hedge funds and family offices, an interesting new buyer group has emerged for us – endowments of private schools. This new group helps highlight how Bitcoin and crypto adoption is spreading,’ he said.”
The question is, can avispa hold onto first-place with two days of trading left? Any pullback in Integrated Ventures could leave avispa vulnerable to a takedown by Brice or Rainendown…
June 26, 2019 Stock Breakouts and Breakdowns
Having already mentioned Integrated Ventures Inc. as the biggest stock breakout of the day, it’s time to take a look at today’s biggest stock breakdown: Energold Drilling Corp. (OTCPK: EGDFF). Energold lost 21.75% today, dropping from $0.09 to $0.07. Just yesterday, the company reported that it and its key subsidiaries were “facing material liquidity issues.”
Via Energold Drilling Corp.,
“the Company [Energold] is in default of certain payment and financial covenants under its June 15, 2017 C$20.0 million convertible secured note agreement (the “NPA”) between Energold and a syndicate of noteholders (each a “Noteholder”) . . . In addition, Energold is in default with respect to the repayment of the residual principal balance owing on a March 2018 working capital facility.”
Just two days remain in the June 2019 Stock Challenge, and it’s shaping up to be one for the books!
