The crypto mining darling Argo Blockchain has taken a nosedive. The company’s stock plummeted a staggering 48.3% recently, sinking to $0.3808 per share. That’s not just bad—it’s potentially catastrophic for its Nasdaq listing. The exchange requires companies to maintain a minimum $1.00 bid price. Argo isn’t even close.
This collapse couldn’t come at a worse time. The crypto market’s Fear & Greed Index sits at a miserable 39, squarely in “Fear” territory. Investors are already spooked, and Argo’s giving them more reasons to run. The company’s ASIC miners struggle to remain profitable amid soaring electricity costs.
Market fear is spreading like wildfire, and Argo’s meltdown just poured gasoline on investor anxieties.
The stock’s volatility remains sky-high at 16.49%, with a pathetic showing of just 7 green trading days out of the last 30. That’s right—23% positive days. Brutal.
Nasdaq doesn’t play games with sub-dollar stocks. The exchange typically issues deficiency notices when prices stay below $1.00 for too long. Companies usually get around 180 days to fix things, but Argo needs a miracle to triple its share price.
Delisting would crush liquidity and send institutional investors heading for the exits.
Short-term forecasts offer zero comfort. Analysts remain overwhelmingly bearish, predicting Argo might reach a measly $0.38 in the coming months. This is a far cry from the average analyst price target of $0.6743 for the next 30 days, which represents an optimistic 1,782% increase from the current price. The technical analysis shows the stock’s STOCHRSI value of 11.45 clearly indicates that ARBK is oversold. Technical indicators flash warnings: 3 negative signals versus just 1 positive.
The stock trades below both its 20-day and 60-day moving averages. Not exactly inspiring confidence.
The disconnect between near-term reality and some long-term predictions is almost laughable. While Argo struggles to stay listed, some 2025 forecasts project average prices of $7.68, with highs of $9.17.
Others predict more modest targets around $1.36. The range between the lowest and highest estimates ($0.239 to $9.17) shows nobody really knows what’s happening.
Argo’s current price represents an 80% wipeout from previous highs.
With 50-day and 200-day moving averages ($0.37 and $0.59 respectively) above the current price, the downtrend seems entrenched. For now, this mining company is digging itself into a hole it might not escape.
