XTRA Bitcoin Inc. (OTCMKTS:CBTC) is in a range after rallying 150% on Tuesday last week. Although crypto stocks have been doing well recently, XTRA Bitcoin’s rally is a mystery as there was no company news or release.
The rally could likely have been speculative, but the magnitude of a single day presents a good case for investors to be keen on the stock.The last time there was any news about XTRA Bitcoin was on March 5, 2021, when it announced the receipt of 27 ASIC T17 55 TH/s miners.The company received the miners at the RNIK facility located in Manitoba, Canada.
Interestingly, the company had placed the order much earlier, but due to the pandemic, its American staff could not visit Canada and carry out the installation of these miners. Considering the crypto sector has been performing, XTRA Bitcoin is among the companies expected to benefit. For now, investors should keep an eye on CBTC.
Market Reaction:
On Tuesday, CBTC stock slid 16.67% at $0.0080 with more than 53.10 million shares, compared to its average volume of 22.71 million shares. The stock has moved within a range of $0.0078 – 0.0104 after opening the trade at $0.0097.
