Nakamoto Posts $6.65 Q2 Loss Per Share, Deepening Crypto-Driven Losses
NAKA sits 55% above its 52-week low of $3.33 on light trading volume (0.2× avg).
Summary
Nakamoto reported a Q2 loss of $6.65 per share, a substantial per-share loss that follows a $238.8 million net loss in Q1 driven by Bitcoin price declines and acquisition-related charges. The company completed a 1-for-40 reverse split in May, so this per-share figure reflects the post-split share count, making the loss even more severe on a per-share basis. The CEO has been buying stock aggressively in recent months, but the continued losses and a $4.99 billion ATM program suggest significant dilution risk ahead. The resignation of the Chief Medical Officer earlier this month adds to the negative backdrop.
Updates
· SEC 10-Q — The 10-Q shows Q2 net loss of $133.0 million, including a $105.2 million goodwill impairment and a $48.7 million loss on digital assets.
At the time of this announcement, NAKA was trading at $5.15 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $86M. The 52-week trading range was $3.33 to $624.00. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.