Bitcoin Price Tumbles 6% on Economic Growth Uncertainty

Bitcoin

(BTC) had an outstanding run during the first half of the year as it climbed to new highs at the end of each month, but the month of July and August have not been as kind to the world’s biggest cryptocurrency. A lot has gone on over the past month and a half that has made it difficult to regain its momentum.

However, in August, Bitcoin started climbing considerably as it was thought to have been a hedge against the global risks that had been unleashed due to major macroeconomic factors. The biggest factor in …

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Source: cryptocurrencynews
Bitcoin Price Tumbles 6% on Economic Growth Uncertainty

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Beyond Meat Tumbles after Pricing Second Stock Offering at $160

Coinspeaker
Beyond Meat Tumbles after Pricing Second Stock Offering at $160

announced that they will its secondary offering of shares at $160, which represents an 18.6% discount to the closing of the stock but is more than six times higher than the charged less than three months ago.

Beyond Meat is offering 250,000 shares and existing stockholders are offering an additional 3 million. Some may see this move as a way for early investors to cash out on the stock’s huge rise since its IPO in May. From then, Beyond Meat stock was up 686% percent since listing as a public company.

Early investors such as Kleiner Perkins and Obvious Ventures and Chief Executive Officer Ethan Brown took profits after an almost eight-fold gain since the stock’s debut. Shares however recovered back on Wednesday, erasing some of Tuesday’s 12% plunge, to trade $196.51 each. However, on Thursday it kept going downwards as much as 12% to $172.

Analysts, however, think that there is no reason for fear. The offload that’s done represents only a small bit of their holdings (totaling 3 million shares) and also, the company is putting up towering growth numbers which really makes it look like they underpriced the shares at the IPO.

Let’s also not forget that the insiders were released from their legally required six-month-long lock-in period.

However, in June, JPMorgan‘s Ken Goldman downgraded Beyond Meat to a “neutral” rating. He then said that any hiccup in performance, real or perceived, could lead to a meaningful correction in the share price.

In a more recent note, Goldman reiterated the neutral rating because of Beyond Meat’s opportunity for growth, its management team, and ability to beat Wall Street’s expectations in the near term.

From the company, they say that they want to raise $40 million from the new shares, before the cost of underwriting, commissions, and the offering. The earnings will be used to “increase its production and supply capabilities, to pay for marketing and promotional activities, and for general working capital purposes”.

It is pretty unbelievable that stock went public at $25 in May and since then increased more tenfold in the time frame of just about a quarter.

Be it as it may, it seems that Beyond Meat could become the leading brand in plant-based food which could replace real meat consumption. Nowadays consumers want to eat and live healthier, they care more about animal’s good being and want to have some impact on the environment.

If this appears to be correct, the company could face a $1.4-trillion global market with its alternatives for beef, pork and poultry, primarily with their already famous ‘Beyond Burger’ that has been available at more than 53,000 distribution points by now as the demand for plant-based meats is clearly very strong.

Beyond Meat attracts a constantly growing list of restaurant and now is expecting at least $240 million in revenue this year, that’s almost triple 2018’s total.

Latest announced partner is Dunkin’ Brands Group Inc., which started testing their ‘Beyond Sausage’ breakfast sandwich in Manhattan before a planned nationwide rollout. Beyond Meat products are also on the menu at Tim Hortons, TGI Fridays, Carl’s Jr. and Del Taco.

Beyond Meat Tumbles after Pricing Second Stock Offering at $160


Source: coinspeaker
Beyond Meat Tumbles after Pricing Second Stock Offering at 0

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TRON Price Tumbles After The Rescheduled Lunch Between Buffett And Sun

tron price tumbles


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The of the (TRX) cryptocurrency is in the latest altcoin news for its decline after the founder of the coin, Justin Sun, has rescheduled the lunch with one of the richest people in the world, Warren Buffett. The Tron price as we speak.

The day-to-day Tron prices are now down by almost 14% at the time of writing, trimming the weekly gains to a close zero. In the coming altcoin news, other major coins from the top 10 by market capitalization are registering losses of up to 6% today.

The Tron price tumbles after the cryptocurrency foundation announced the reason for the rescheduled lunch – which seems to be the founder of the cryptocurrency Justin Sun and his apparent illness. The foundation also stated that “lunch and press conferences” had been put on hold after Sun had “fallen ill with kidney stones.” Tron confirmed that Buffett and Sun had “agreed to reschedule at a later date.”

The lunch meeting with Buffett was a hot topic on many best cryptocurrency news sites – and was seen as something that was organized after Sun paid $4.6 million at a charity auction. This impressed Buffett, who was once a crypto pessimist, to explore the topic on TRON and Justin Sun’s goals. However, the Tron price tumbles as a result of the delayed lunch.

Meanwhile, an unsourced and unconfirmed report in the media speculated that Sun postponed the lunch because he was not able to leave China due to various accusations (including illegal fundraising via Tron). Still, this has not been confirmed and Sun responded through his Weibo account to deny the allegations made by the 21st Century Business Herald.

“The illegal fundraise accusation is wrong. Tron complied with regulators and refunded investors on Sept. 20 in 2017, immediately after the order [of a ban on initial coin offerings] from seven ministries in China,” he said (translated).

The Tron price tumbles as we speak, again proving that everything can affect the price of crypto and again showing volatility just like the other coins in the latest cryptocurrency news. Currently, TRX sits at $0.024 with a 16% loss on the day.

The post TRON Price Tumbles After The Rescheduled Lunch Between Buffett And Sun appeared first on DC Forecasts – Leading Digital Currencies.


Source: dcforecasts
TRON Price Tumbles After The Rescheduled Lunch Between Buffett And Sun

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Bitcoin Tumbles Below $10K Mark as Crypto Market Turns Bearish

Bitcoin

The crypto market had an excellent first half of the year with an impressively strong run, led by (BTC) and some altcoins. However, the month of July has brought with it its fair share of chaos and prices have fluctuated wildly.

Today, the crypto market lost a significant portion of its value, falling  $300 billion, as both Bitcoin and many altcoins plunged on the various exchanges across the world. The total loss of valuation was $22 billion at one point, and experts believe it could continue.

Bitcoin Breaks Below $10K

In the …

Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges.

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Source: cryptocurrencynews
Bitcoin Tumbles Below K Mark as Crypto Market Turns Bearish

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Chinese Yuan Tumbles, A Break Through $7 Would Get “Bitcoin Bulls Excited”

Since May 13, has been trading in a tight range of 6.90 and 6.95 which finally broke down and tumbled 0.5%. The biggest in three weeks to a low of 6.962 vs the US dollar, the lowest level since November 2018. This drop came after the chief of China’s central bank said Beijing […]
Source: bitcoinexchangeguide
Chinese Yuan Tumbles, A Break Through Would Get “Bitcoin Bulls Excited”

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