市场见解

Why did the DigitalX (ASX:DCC) share price fall 10% this morning?

What’s going on with DigitalX shares today?
The post Why did the DigitalX (ASX:DCC) share price fall 10% this morning? appeared first on The Motley Fool Australia. –

The DigitalX Ltd (ASX: DCC) share price has had a rather interesting time so far this week.

DigitalX shares experienced back-to-back gains on Monday and Tuesday this week, rising 15% on Monday and another 21.7% on Tuesday. Break out the champagne. But today, it’s been a different story. DigitalX shares closed at 14 cents yesterday, and opened at 13 cents this morning (a loss of 7.15%) before dropping down to 12.5 cents. That’s a loss of 10.7%.

But since open, the company has rebounded somewhat. It’s currently trading at 13 cents, down 7.14%. So what on earth is going on here that could spark such whiplash-inducing volatility?

Well, to understand that, let’s backtrack a little. DigitalX likely had such a strong start to the week due to the update it posted on Monday morning. As we covered at the time, DigitalX notched a new record high for funds under management (FUM) with $38.99 million as of 31 October. That figure represents a 36.8% increase on the prior month, helped by both inflows and booming cryptocurrency pricing.

This impressive performance was driven by DigitalX’s two investment funds, the Bitcoin Fund and the Digital Asset Fund, which were up 37.46% and 27.82% respectively over the month. Year to date, these two funds are now up 105.7% and 285.7%, respectively.

These figures are probably behind DigitalX’s breakneck share price appreciation earlier this week.

So why did the DigitalX share price get the wobbles today?

DigitalX share price takes a breather after its run

Well, it’s not entirely clear. There has been no other news or announcements out of the company today (or yesterday, for that matter).

Cryptocurrency prices have pulled back slightly over the past 24 hours or so, with Bitcoin (CRYPTO: BTC) retreating from the record high of roughly US$68,500 it hit yesterday by around 1.8%. It’s still asking around US$67,000 per coin at the time of writing, so not too much to phone home over.

It’s possible that after the stellar run this company went on over Monday and Tuesday, investors have decided to take a break today and perhaps get some profits off of the table.

Whatever the reason for DigitalX’s share price wobbles today, investors don’t have too much to objectively complain about. DigitalX shares are still up 22.7% over the past 5 trading days, and up almost 93% over the past 6 months.

At today’s DigitalX share price of 13 cents, this company has a market capitalisation of $103.55 million.

The post Why did the DigitalX (ASX:DCC) share price fall 10% this morning? appeared first on The Motley Fool Australia.

Should you invest $1,000 in DigitalX right now?

Before you consider DigitalX, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and DigitalX wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

DigitalX (ASX:DCC) share price surges 10% on Bitcoin update

Why has the DigitalX (ASX:DCC) share price rallied 57% in a month?

Motley Fool contributor Sebastian Bowen owns shares of Bitcoin. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

随时随地,交易世界!

移动APP平台,拥有 12 个市场的 50,000 多种全球上市证券(全球市值超过 70%),直接在您的 Android 或 iOS 设备上即可操作。

与独有的交易理念和投资分析工具相结合,帮助您在我们 12 个全球市场中的几乎所有金融工具上找到可操作的见解,从而帮助您优化交易策略。

推荐给您的朋友

向您的朋友推荐Monex并赠予他们免费使用我们交易工具的机会

我们尊重您的隐私,只会向您的朋友发送一封邮件 

与您的朋友分享

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!