BTCS - ChinaNet Online: Near Death Makes Desperate Cryptocurrency Shift
Investment Thesis
ChinaNet Online Holdings, Inc. (CNET) has traded at about $1 per share for the past year and has not traded over $2 since August 19, 2016. The stock has traded terribly due to CNET’s poor financial performance and deteriorating financial position.
CNET’s stock fortunes changed with the January 4, 2018 announcement of a strategic partnership and “the expansion into the blockchain industry.” The stock price soared, closing 698% higher than the prior day and at the highest level in over 7 years.
On January 11, 2018, CNET announced the appointment of