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The9 Limited - American Depository Shares

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NCTY trade ideas

Pendant on the Day for NCTY - The9NCTY, aka The9, is another Bitcoin mining company (as if there aren't already enough to choose from). On Friday, it ended down the news that the company will purchase another 24,000 Antiminer S19 mining machines scheduled for delivery later this year in November. It is currently a textbook pendant, which is slightly down-trending (as seen by the trendline angles). Furthermore, it is trading on the beaten-up NASDAQ. Normally, a pendant would make me bullish on the stock, but the close down on good news, the down-pointing pendant, and the state of the NASDAQ has me second-guessing this one. There are too many conflicting signals for me. I'm neither a bull nor a bear on this stock. Let's wait for the pendant to finish next week and let it tell us which way it's headed, then ride that wave.
NASDAQ:NCTY
by tfweinstein
NCTY & other crypto stocks to make sure y have in your portfolioWe are going to compare some crypto stocks that are leading the charts at the moment and focus mostly on NCTY. Fundamentals : So we are looking at one of my favs ! the 9 is a crypto stock that is kicking ass since last Friday's drop and the union bought a massive amount of its dip. The 9 is now 900% up YTD ! that is massive. The surge of the stock is contributed to the company announcing they will start mining crypto's in Jan 2021 and since has announced the purchase of more mining equipment to mine BTC and FIL among others. The 9 was also associated with EV plays late last year and its main income was video games, although it is not going so great for them at that sector currently. They hired Cai Zhifang in February for their crypto subsidiary NBTC, as the new acting CEO. Cai has been a crypto pioneer since 2013 and co-founded YiBit , one of the first blockchain platforms in china, and get this: in 2015 Cai’s mining rate accounted for over 4% of the global hash rate of BTC worldwide ! with over 300k miners under AvalonMiners. So what is expected of this stock? Well personally I would say that just like MARA im playing ping pong with these stocks – I sell them every time they break a new higher high of 5% and buy them at every dip of over 10% - 15% I can get – and thanks to BTC volatility that is going well and giving me a lot of entries and exits 😊 Let's talk technicals : • From 02 till 12 of Feb stock was going in a nice steady uptrend • From the 13th till the 19th it moved parabolically and made an 83% move in just 5 trading sessions – ATH of 89.2$ ( this is usually where I start dumping the stock in 20% chunks every time) • From 23 till 26 the stock has been falling and gave me great cheap entries along the way and bottomed down to 32.9$ (notice the difference from highest high of 89$ - free money !), the level of 32 is now our strongest bottom support and can relay on that area for dip-buying • From 26 of February till 09 of March stock is channeling 32$ to 51$ - nice channel move to buy and sell steady • After march 9th it broke 51 and touched 64$ and now trading at that area as its current support Important points : 1. Below 32 stock is going into the dead zone and we will buy dips only up to that number, below that we will just wait for it to resurface. 2. RSI nose down – correction is due (I think a small one not too big) 3. ADX below 40 – not trending- we must see when it crosses 40 that means the action is coming. 4. The POC (volume point of control) is 42$ - which means stock needs to revisit that area and we will buy more there. 5. Price is sitting exactly on the 50% line from the parabolic motive wave it did in February – the wonders of FIB retracements are amazing – that means we know where the stock needs to be when hype is not high. Volume analysis : • 3 months avg volume is 4.8M • 1M volume avg is 5.2M • This week its about 1.3M (estimate) ** we want to keep an eye if the volume goes above 3M that can mean the big movement is coming. What to expect : I want to see the stock going back to the 42$ area where we can buy more and then converge sideways for a couple of days and then take off above 51$ (green arrow on chart). If BTC will give us another dive like last week we can expect to get the stock at a massive discount. Short interest : 11.5% short of float Increase of 4% Shares float is 5,900,000 Current shares short 679,700 Nothing special – looks good to me Insider buys : Nothing to report – no insider buys found. Compare to the key players in crypto stocks : Lets compare MARA , NCTY, STPK, SOS,EBON,BTBT, CAN, RIOT 1. RIOT leading with a 1752% rise 2. MARA 1744% 3. CAN 1380% 4. NCTY 641% 5. BTBT 326% 6. SOS 257% 7. STPK 221% 8. EBON -13% Crazy percentages all around! The union will keep buying deeps on these leading stocks and use the best of the BTC era that we are experiencing. Trade safe! Be safe!
NASDAQ:NCTYLong
by FDGT_academy
2
Why The9 crypto Stock surged Yesterday?Why The9 Limited Stock surged Yesterday? The9 Appointed Cai ZhiFang as the CEO of NBTC Limited to Lead the Development of Blockchain and Cryptocurrency Business. Mr. Cai is an early pioneer in the blockchain industry. In 2013, Mr. Cai co-founded YiBit Digital Technology Company Limited, one of the earliest integrated platforms in blockchain industry in China. In 2015, Mr. Cai served as the general manager of WeiTui Technology Limited Company, which self-operated Bitcoin mining by the purchase of AvalonMiners from Canaan. The peak hash rate managed by Mr. Cai at that time accounted for nearly 4% of the global hash rate of Bitcoin. Afterwards Mr. Cai established a strategic partnership with Canaan, responsible for assisting its customers in establishing, operating and maintaining AvalonMiners. At that time Mr. Cai managed and operated more than 300,000 AvalonMiners, with an accumulative hash rate exceeding 5,000 PH/S, accounted for nearly 5% of the global hash rate of Bitcoin at that time. finance.yahoo.com
NASDAQ:NCTY
by AlenCiken
4
$NCTY Purchased Filecoin Mining Machines for US$10 millionThe9 Signed a US$10 million Framework Agreement on the Purchase of Filecoin (FIL) Mining Machines. The9 had already purchased and deployed Filecoin mining machines, and Filecoin mining has been started. Currently The9 owns an independent node on Filecoin blockchain and 8 Pebibyte of effective storage mining power in the Filecoin network. The9 will continue to purchase Filecoin mining machines under the Framework Agreement based on the trend of Filecoin price and Filecoin's economic incentive model. finance.yahoo.com
NASDAQ:NCTY
by AlenCiken
The interested parties.."I generally ask and receive calls on a block of stock. I insist upon graduated calls as the fairest to all concerned. The price of the call begins at a little below the prevailing market price and goes up; say, for example, that I get calls on one hundred thousand shares and the stock is quoted at 40. I begin with a call for some thousands of shares at 35, another at 37, another at 40, and at 45 and 50, and so on up to 75 or 80." Jesse Livermore describes how he manipulates share prices in Reminiscences Of A Stock Operator, written 1923. (NCTY, January.4th, 2021) "Our goal is to build up cryptocurrencies mining machines for The9 that will contribute 8% to 10% of the global hash rate of Bitcoin, 10% of the global hash rate of Ethereum and 10% of the global hash rate of Grin and become one of the world's largest cryptocurrencies mining companies in terms of hash rate." The9 Ltd – ‘POS AM’ on 2/9/21 "On January 25, 2021, we entered into a share subscription and warrant purchase agreement, or the Purchase Agreement, with several investors in the cryptocurrencies mining industry, including Jianping Kong, the former Director and Co-Chairman of Canaan Inc. (Nasdaq: CAN), a Bitcoin mining machine manufacturer listed on Nasdaq, Qifeng Sun, Li Zhang and Enguang Li, based on the pre-agreed legally-binding term sheet. Those investors are collectively referred to as the Investors in this prospectus. Pursuant to the Purchase Agreement, we issued 8,108,100 Class A ordinary shares in aggregate at US$0.1233 per Class A ordinary share and 207,891,840 warrants in aggregate, each warrant representing the right to purchase one Class A ordinary share, to the Investors in February 2020. The warrants are divided into four equal tranches: Tranche I Warrants, Tranche II Warrants, Tranche III Warrants and Tranche IV Warrants. The exercise price of each of the Tranche I Warrants, Tranche II Warrants and Tranche III Warrants is US$0.1233 per Class A ordinary share while the exercise price of the Tranche IV Warrants is US$0.2667 per Class A ordinary share. Each tranche of the warrants will only be exercisable upon the satisfaction of its respective condition in connection with the market capitalization of our company reaching US$100 million, US$300 million, US$500 million and US$1 billion within the timeframes of 6 months, 12 months, 24 months and 36 months from its issuance date, respectively. In addition, the Tranche III Warrants will be automatically forfeited with nil consideration in the event that the Tranche II Warrants fail to become exercisable within the specified timeframe and the Tranche IV Warrants will be automatically forfeited with nil consideration in the event that Tranche II or the Tranche III Warrants fail to become exercisable within the specified timeframe. The Investors shall make payment of the purchase price and the exercise price for the warrants in (i) cash, (ii) cryptocurrencies, or (iii) a combination of both, at our election. Pursuant to the Purchase Agreement, upon the satisfaction of the market capitalization condition of Tranche III Warrants, the Investors will be entitled to collectively appoint one director to our board of directors. Such appointment right will automatically terminate on the later of (i) the third anniversary of the closing date, and (ii) the date on which the Investors collectively hold less than 5% of our total number of ordinary shares on a fully diluted basis. The transaction was closed in February 2021. The Investors are expected to devote cryptocurrencies mining industry resources to us for our development of cryptocurrencies mining business. In February 2021, we issued and sold (i) a one-year convertible note in a principal amount of US$5,000,000, (ii) 50,000 ADSs, and (iii) 10,000,000 Class A ordinary shares, for an aggregate consideration of US$5,000,000 to Streeterville Capital LLC, or Streeterville. The convertible note bears interest at a rate of 6.0% per year, computed on the basis of a 360-day year. Streeterville has the right, at any time after six months have elapsed since the purchase date until the outstanding balance has been paid in full, at its election, to convert all or any portion of the outstanding balance into ADSs of our company at an initial conversion price of US$14 per ADS, each ADS representing thirty Class A ordinary shares, subject to adjustment. Beginning on the date that is six months from the note purchase date, Streeterville has the right, exercisable at any time in its sole and absolute discretion, to redeem any portion of the convertible note up to US$840,000 per calendar month. Payment of the redemption amount could be in cash or our ADSs, provided that any redemptions made in cash which exceed half of the original principal amount will be subject to a ten percent (10%) premium. In the event the principal amount and interest accrued for the convertible note issued to Streeterville are fully repaid, we have the right to repurchase the remaining Class A ordinary shares held by Streeterville that are unsold at US$0.0001 per share. In February 2021, NBTC Limited, our wholly-owned subsidiary, signed a strategic cooperation framework purchase agreement, or the Cooperation Agreement, with Shenzhen MicroBT Electronics Technology Co., Ltd., the manufacturer of WhatsMiner bitcoin mining machines. Pursuant to the Cooperation Agreement, upon the payment of a deposit, NBTC Limited has the right of first offer to purchase 5,000 WhatsMiner bitcoin mining machines from MicroBT within one year, including but not limited to models M32 and M31S. We completed first batch purchase of 440 WhatsMiner M32 machines in February 2020. Other than WhatsMiner bitcoin mining machines, we also plan to continue purchasing different types of cryptocurrency mining machines in the near future. In February 2021. we entered into a standby equity distribution agreement, or the SEDA, with YA II PN, LTD., a Cayman Islands exempt limited partnership managed by Yorkville Advisor Global, LP pursuant to which we are able to sell up to US$100.0 million of our ADSs solely at our request at any time during the 36 months following the date of the SEDA. For details of the SEDA, see “Corporate History and Structure.” In February 2021, we entered into purchase agreements with five Bitcoin mining machine owners to purchase Bitcoin mining machines by issuance of our Class A ordinary shares. Pursuant to the purchase agreements, we issued an aggregate of 26,838,360 Class A ordinary shares in exchange for 26,007 Bitcoin mining machines, with a total hash rate of approximately 549PH/S, accounting for about 0.36% of the global hash rate of Bitcoin. Majority of these mining machines have already been deployed in Xinjiang, Sichuan and Gansu in China. The number of Class A ordinary shares issued to each owner was determined based on the fair market value of Bitcoin mining machines, as apprised by an independent valuation firm prior to the execution of the purchase agreements, at a pre-agreed per share price of approximately US$0.37 per Class A ordinary share (equivalent to US$11.18 per ADS)."
NASDAQ:NCTY
by stocktradez6
3