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Sixty Six Capital Inc ( (TSE:SIX) ) has shared an update.
Sixty Six Capital Inc. has announced the acquisition of 18.2 Bitcoin, marking a strategic move to accelerate its Bitcoin accumulation strategy. The company plans to convert its current holdings in a Canadian ETF into direct Bitcoin holdings. Additionally, Sixty Six Capital is initiating a non-brokered private placement of common shares to raise up to USD 2.5 million, which will be used for further Bitcoin purchases and general corporate purposes. This move is expected to enhance the company’s positioning in the cryptocurrency market.
Spark’s Take on TSE:SIX Stock
According to Spark, TipRanks’ AI Analyst, TSE:SIX is a Neutral.
The overall stock score of 61 is primarily influenced by strong technical indicators suggesting bullish momentum and a reasonable valuation with a moderate P/E ratio. Financial performance is a concern due to negative cash flow and declining assets despite strong profitability metrics.
To see Spark’s full report on TSE:SIX stock, click here.
More about Sixty Six Capital Inc
Sixty Six Capital Inc. is an investment company specializing in crypto and AI assets.
Average Trading Volume: 41,804
Technical Sentiment Signal: Buy
Current Market Cap: C$11.65M
See more insights into SIX stock on TipRanks’ Stock Analysis page.