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I like the way $RIOT is up huge and the deal is not guaranteed – this crypto silliness is just astounding
Dennis Gartman has often been lambasted for his timing of wrong trades making him a great contrarian indicator at times. It seems he has out done himself this time. Even more bizarre he has been anti crypto as long I can recall, yet he loses a third of the value in a blockchain trade!
From Barrons
Dennis Gartman, the 67-year-old longtime publisher of a namesake daily investing newsletter and television commentator, owns shares of Riot Blockchain Inc., a company that focuses on blockchain technology, in his retirement account, Bloomberg reports. The stock lost a third of its value on Feb. 16 after CNBC publicly broadcast an investigative story on the company.
“Friday was one of the worst days we have suffered through in a very long while,” Gartman writes in the Gartman Letter on Tuesday. “We were long of a sizeable position in a blockchain focused company that was the victim of a CNBC expose, which sent the shares down more than 20 percent and which sent us ‘down’ for the year to date, having been up about 6 percent previously.”
At the very least, Gartman’s experience could be worth sharing with clients for whom advisors recommend an extra dose of caution when it comes to these types of investments.
— Cheryl Winokur Munk @BarronsDANGER, DANGER WILL ROBINSON … BITCOIN & other “kryptos” have same value as what English settlers paid for the island of Manhattan from native (and naive) Americans 😳 … about $16 :whistle: :whistle: :whistle: :whistle:
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