If You Want Your Share Price To Grow By More Than 50%, Just Say You Will Launch A Cryptocurrency - That's What ATARI Did
And it worked, apparently:
In the screenshot above, there is a slight correction, but the trend is clearly visible. The share price went from $0.46 on Wednesday, to $0.76 today.
So, what made the shares of ATARI, a computer games "dinosaur" to jump from $0.46 to $0.76? And remember we're talking about shares here, not crypto market, so wild swings are not a regular game in this playground.
The cause of the surge seems to be an announcement ATARI made a few days ago in which, please hold your breath, they let the world know they'll launch the ATARI Token. How and what company they'll use for that (ATARI is a multinational conglomerate of companies) is not relevant for this post.
What's relevant, though, is that the market is reacting incredibly fast these days.
It would be nice for ATARI to create a little bit of a comeback. Never a huge fan of Tetris and Pac Man (both launched by ATARI) but the offspring of a dinosaur and a cyborg should be something really nice to play with.
The "cyborg" being the blockchain here, obviously.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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I personally blame Kodak for this trend. They started this shit, and now the rest of the dinosaurs have gotten wise to this stock price-boosting trick.
It seems like pump and dump has even started in Share market...
This is it every company need their own token and if they want more than 50% use a new platform ;)
We will likely see more of this where companies create tokens/coins. Great sign as even real corporations are trying to adopt crypto. Thanks.
Kodak is doing or attempting to do the same thing. Could be a good attempt for these companies to get a head of the technology and become relevant again, but I think this is just a pr stunt for both of these companies.
There was a similar reaction when Kodak announced that they were entering crypto currency market. But that enthusiasm died out soon. Looks same is happening in case of ATARI too. If they fail to offer something new then they might fail big time. If they offered something new then they will succeed exponentially.
@dragosroua I enjoyed playing Ms. Pac-Man in my younger days. It was especially FUN after a couple of Pitchers of Beers with friends.
This isn't the first time. A couple of months ago a coffee cup company or something said they're launching their blockchain and it rocketed. Plenty of people looking to speculate with no understanding, whatsoever.
@dragosroua - Absolutely great initiative by themselves! Would love to see their revival. I do however question their use for the new Atari token as they indicate it will be used for online betting. Does the crypto space really need another betting type coin, there is many already. I wrote a similar post to this a few days ago, if you have the time please feel free to check it out and any other related posts that may interest you. All the best - @dan21050
This is it every company need their own token and if they want more than 50% use of new platform...
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Good thinking