The global cryptocurrency market today is $1.98 Trillion. in 2018 Bitcoin’s market capital was less than $50 Billion. but within 3 years it rose from $3500 to all the way to $60,000 bringing 2000% capital gains on any investment .
Along with bitcoin a rise of alt coins and crypto projects rose as high has 500% on average.
If you look at the stock market the stocks that had exposure to bitcoins and cryptocurrencies has rise as much as 1000%
Marathon Digital Holdings (Mara) is one of the companies that has one of the biggest mining operations in North America. Post pandemic prices jumped from $0.30 to $57.75 a whopping 165 times gains within a year.
This type of gain is every investor’s dream. Cathy Wood from Ark investment has predicted bitcoin price will cross $500,000 within 2025.
The stock that I am going to share is called “Greenidge Generation and holdings” ticker symbol GREE
At its highest it went to $316.50 Current market price at the time of writing this article is $25.
After the merging with Support.com a customer relationship management company and its’ debut to the stock market, the stock crashed to less than $30 slashing its market cap and value.
A lot of fear and attack from the short-sellers scaring away investors.
Here’s why I think GREE will rise to $150 within a couple of weeks.
- GREE is extremely oversold. Only 9.52 Million Shares are available for trading from 30 Million shares that have been issued (insiders can not sell the shares due to a lockout period of 180 Days) So shorts are lending shares to cover their positions, but fortunately, they are not covering their shorts and keep shorting the stock. Similar company Mara’s free float is 90.41 Million, 10 Times more than GREE. Because of lower supply, the demand can build up.
- Comparing the market cap with other competitor’s MARA (3.76B), RIOT (2.82B) GREE is extremely undervalued ($983M). if Gree matches up with its competitor’s market cap the price will be $150-200 which is 5 times the share price that it is now.
- Greenidge has ordered 10,000 Bitcoin miners from Bitman to increase their mining process.
Press release: https://ir.greenidge.com/news-releases/news-release-details/greenidge-expand-bitcoin-mining-fleet-order-latest-generation
- They are expected to open another mining facility in South Carolina in the 4th Quarter of 2021 and 10,000 miners will be in operation in the 2nd quarter of 2022.
— ORTEX (@ORTEX) September 17, 2021
The short interest data from Ortex shows many investors are heavily shorting this stock. with the lending fee going as much as 110% . A short squeeze is imminent.
All of these data leads to one thing. The future is brighter than the sun for Greenidge Generation.
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