Bitdeer's $BTDR Stock Lock-Up Expiry Raises Questions Over The Company's Potential Undervaluation
- 6 months ago
In the past month, Bitcoin-mining company Bitdeer Technologies stock has plummeted approximately 70%, taking the stock from a price of $9.84 a share to a low (as of this writing) of $3.03 a share.
Advocates of the company argue that the price drop is not due to fundamental reasons but rather due to the end of the stock’s lock-up period. Following a company's initial public offering, some of its shares may undergo a ‘lock-up period,’ during which investors are restrained from selling shares for a set period of time.
According to SEC filings, approximately 95% of Bitdeer’s shares had been subject to a lock-up agreement and were unable to trade on the open market.
Advocates of the company argue that the price drop is not due to fundamental reasons but rather due to the end of the stock’s lock-up period. Following a company's initial public offering, some of its shares may undergo a ‘lock-up period,’ during which investors are restrained from selling shares for a set period of time.
According to SEC filings, approximately 95% of Bitdeer’s shares had been subject to a lock-up agreement and were unable to trade on the open market.