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Argo Blockchain ( (GB:ARB) ) has provided an update.
Argo Blockchain plc has announced a proposed restructuring plan that involves converting its ordinary shares into American Depositary Shares (ADSs) and delisting from the London Stock Exchange. This move aims to regain compliance with Nasdaq’s listing requirements and involves a change in the ADS ratio. Shareholders are given the option to trade shares off-market or convert them to ADSs, with the restructuring plan subject to court approval. The plan is expected to impact trading and shareholder options, with a timetable set for meetings and voting procedures.
The most recent analyst rating on (GB:ARB) stock is a Sell with a £1.50 price target. To see the full list of analyst forecasts on Argo Blockchain stock, see the GB:ARB Stock Forecast page.
Spark’s Take on GB:ARB Stock
According to Spark, TipRanks’ AI Analyst, GB:ARB is a Underperform.
Argo Blockchain’s overall stock score is primarily impacted by its poor financial performance, characterized by declining revenues, significant operational losses, and severe cash flow issues. The technical analysis further indicates bearish momentum, with the stock trading below key moving averages and weak momentum indicators. Valuation metrics are also unfavorable, with a negative P/E ratio and no dividend yield, contributing to the low overall score.
To see Spark’s full report on GB:ARB stock, click here.
More about Argo Blockchain
Argo Blockchain plc is a blockchain technology company focused on large-scale cryptocurrency mining. It operates a mining facility in Quebec and has offices in the US, Canada, and the UK. The company is committed to sustainable operations, primarily powered by renewable energy, and was the first climate-positive cryptocurrency mining company, signing the Crypto Climate Accord.
Average Trading Volume: 4,709,942
Technical Sentiment Signal: Sell
Current Market Cap: £11.83M
See more data about ARB stock on TipRanks’ Stock Analysis page.