Prenetics Halts Bitcoin Purchases to Focus on IM8 Brand with $100M Revenue
- Halting Bitcoin Purchases: Prenetics announced the suspension of its daily Bitcoin buying program on December 4, ending the initiative launched in June, which indicates a significant strategic shift towards focusing on its IM8 nutritional brand co-founded with David Beckham.
- Success of IM8 Brand: IM8 surpassed $100 million in annualized recurring revenue within just 11 months of its launch, demonstrating high market acceptance and potential for further market share expansion, which could enhance the company's overall profitability.
- Bitcoin Holdings: The company retains 510 Bitcoin and over $70 million in cash and cash equivalents, although the current Bitcoin price of $88,198 implies an unrealized loss of approximately $3.4 million on its position, reflecting the impact of market volatility on the company's assets.
- Stock Price Movement: Despite a 3.32% drop in Prenetics' stock price during Tuesday trading on Nasdaq, the stock is still up nearly 170% year-to-date, indicating investor confidence in the company's long-term growth potential.
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Technical Analysis for Q
Technical Sentiment Analysis for Quack AI (Q) As of , Quack AI (Q) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for Q stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, Q is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Quack AI (Q) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00747 | 0.0119 | 0.0149 | 0.0194 | 0.0224 | 0.0268 | 0.0298 |
| Fibonacci | 0.0119 | 0.0147 | 0.0165 | 0.0194 | 0.0222 | 0.024 | 0.0268 |
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