The Canadian stock markets are officially closed, which means now is the time to look at both the stocks that ended the day up and those that didn’t. In terms of blockchain and crypto stocks on the CNSX, there was some diversity on Wednesday.
Global Blockchain Technologies, for instance, ended the session in the green, up nearly 2%, but Cryptobloc Technologies did the opposite. The latter ended the day in the red, down nearly 10%.
But why? Did Global announce something positive? Did Cryptobloc announce something negative? Let’s see what we can find out!
Blockchain and Crypto Stocks on the CNSX:
- Global Blockchain Technologies (CNSX:BLOC)
According to Google Finance, at 4:00 p.m. EDT, Global Blockchain was trading at $0.38. This means the stock was up 1.35% at the time. As a small-cap company, Global Blockchain Technologies has a market cap of less than 200M (168.80M, to be exact).
Global Blockchain has been extremely quiet today, which means there’s no specific reason for the BLOC stock to have ended the day in the green. However, just because there wasn’t anything announced today doesn’t mean the company hasn’t been doing well. The stock was down nearly 5% yesterday, but Global Blockchain is still rolling out announcement after announcement.
On June 7, Global Blockchain disclosed that the KODAKCoin, which Global is a lead investor in, will be the virtual currency to 6 NHL and NBA arenas in the United States.
- Cryptobloc Technologies (CNSX:CRYP)
Cryptobloc Technologies is another Canadian company involved in the crypto and blockchain sector. However, unlike Global Blockchain, Cryptobloc ended the day in the red zone. This isn’t new – the stock was down on Monday too.
According to Google Finance, at 4:00 p.m. EDT, Cryptobloc Technologies was trading at $0.070 on the Canadian Securities Exchange. This means the stock was down 6.67% at the time.
Similar to Global Blockchain, Cryptobloc Technologies has not been shy on the announcements the past couple months. Which means today’s market results may have just been a one-off. After all, stocks fluctuate all the time—that doesn’t mean the company is failing.
>> Global Blockchain Technologies Down 5% – Why?
On Monday, June 18, Cryptobloc Technologies announced that it is going to be working with JCN Capital. Why? They will be creating a market awareness program together. It will last for roughly 3 months. The stock dropped on the news.
The Takeaway
Were you surprised by the results of the blockchain and crypto stocks on the CNSX today? Let me know in the comments below!
Featured Image: DepositPhotos/ Petrovich99
