Crypto

ARBKF Mobilizes As Argo Blockchain Prepares for IPO …

The international cryptocurrency boom that has grown and expanded throughout the year continued today, when well-known cryptocurrency blockchain mining company Argo (OTCMKTS: ARBKF) launched a first public offering. The company, which is listed primarily on the London Stock Exchange, now offers up to 7.5 million US Depository Shares (ADSs). As a result, Argo will soon hit the Nasdaq, where it will trade under the ticker ARBK. This will offer current investors in ARBKF shares a unique opportunity.

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What happened to the ARBKF shares?

ARBKF shares experienced some turmoil throughout the day, but shares ended the day up 8.6%. This rally comes after some slight drops this morning, but a generally stable afternoon with very minimal drops.

What this means

Argo has been considering listing on a US stock exchange since July, as confirmed by an update released by the company. As the fascination for cryptocurrencies has grown, and with it the need for Bitcoin (CCC: BTC-USD) mining, it certainly makes sense for the company to expand access to American investors.

The ARBKF stock, as is, is an interesting case. It is currently traded over the counter, which some investors, especially those transacting on a large scale, may sometimes be wary. International companies are known to trade on OTC exchanges to connect with US investors and raise capital quickly. As these companies are typically smaller or in fairly early stages of development, an over-the-counter ticker can sometimes turn investors away.

That being said, Argo is recognized as an industry leader in the UK in the areas of sustainable blockchain infrastructure development and cryptocurrency mining. In addition, you are used to successfully trading on one of the largest stock exchanges in your country. When it starts trading on one of the major US stock exchanges, it could easily spark investor interest in stocks and cryptocurrencies.

What’s next for ABRKF Stock?

In a literal sense, the next development will be for ABRKF to debut on the Nasdaq.

Assuming this happens quickly, investors will have a new Nasdaq-listed stock to watch in the crypto space. Considering its potential, Argo Blockchain is certainly worth a visit. As we’ve seen, it’s been a good year overall for stocks in cryptocurrency trading companies, which sometimes make better investments than the cryptocurrencies themselves.

Until ABRK shares start trading on the Nasdaq, we won’t know for sure how far they can go. However, there is no reason not to be optimistic. If Argo does well on a major US index, other companies like him will follow suit. ARBKF shareholders should be excited.

As of the date of publication, Samuel O’Brient had no (directly or indirectly) position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to the publication guidelines of InvestorPlace.com.

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