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Summary
- Cypherpunk’s stock has grown 53 per cent this year as the company increased its Bitcoin holdings.
- In one year, Cypherpunk’s stock has skyrocketed over 427 per cent, led by the crypto rally.
- The US-based mobile game developer’s stock has gained over 118 per cent in 2021, led by its entry into the e-sport segment.
From gaming companies to fintech companies, the COVID-19 pandemic has sped up the process of digital transformation across businesses. People are adapting to the pandemic way of life, upgrading their game stations to investing in cryptocurrencies. The transformation has further been propelled by the FOMO (Fear of missing out)-style investors, adding more weight to this digital makeover.
Cutting through the chaos, here are two stocks that are worth your attention – Cypherpunk Holdings Inc. (CSE: HODL) and Skillz (SKLZ:US or NYSE: SKLZ).
Let’s dive right into the fundamentals of these digital stocks:
Cypherpunk Holdings Inc. (CSE: HODL)
The Toronto-based capital market firm, Cypherpunk Holdings, multiplied its Bitcoin holdings to 291.64 units on January 15, 2021, as against 27.9 bitcoins on September 30, 2020.
Its stock has augmented by almost 53 per cent year-to-date (YTD), driven by the crypto rally.
The financial service provider operates through Cypherpunk index that deals in privacy-focused crypto coins. The company also invests in cryptocurrencies’ technologies.
The bitcoin holder’s stock has zoomed more than 427 per cent in one year, with a 10-day volume of 1.17 million. It offers a return on assets of 5.90 per cent and a return on equity of 6.04 per cent.
Cypherpunk has a current stock price of C$ 0.29. Its shares are down 17 per cent from their 52-week high of C$ 0.35. The stock has the potential to further rise in the wake of the viral crypto industry surge.
At the end of December 2020, the company started investing in a Belgium-based Next-generation wallet, NGRAVE. This wallet provides solutions for digital asset management and cryptocurrencies.
Image Source: Kalkine Group @2021
Skillz (SKLZ:US or NYSE: SKLZ)
The mobile game developer has teamed up with the National Football League to build and crowdsource a mobile e-sport. Skillz’s stock soared nearly 37 per cent in the last two trading sessions on the back of the above partnership.
The gaming stock is currently trading at US$ 43.72 per share against its 52-week high of US$ 46.28. It is up 118.6 per cent this year, guided by the growing mobile games demand.
The company’s founder and CEO, Andrew Paradise, stated that teaming up with the National Football League would help the company to boost its esports segment on mobile.
The US$12.75-billion worth of media interactive firm’s outstanding shares are up more than 341 per cent since its listing in April 2020. The large-cap stock could deliver better returns amid the rising online gaming craze.
The above constitutes a preliminary view and any interest in stocks should be evaluated further from investment point of view.
