I wish I knew, Erick! It has been an absolutely brutal few weeks for holders of TeraWulf WULF 0.00%↑ stock. Of which, I am one. Check out this headline from my September 14th Seeking Alpha article:
Narrator: It was not time.
It’s been *checks notes* three weeks since that article, and WULF is down 40% from that initial position:
And I still got a better price than anybody who bought in August. The stock is currently down 75% from it’s high in July. The decline has essentially been in a straight line. To call WULF shares oversold technically would be an understatement.
And this decline has sort of been exclusive to WULF pertaining to the magnitude. WULF is a Bitcoin miner. These business models absolutely suck, but they are definitely tradeable vehicles if you think Bitcoin is going higher.
At $27.5k, Bitcoin is about ten percent ahead of where it was in early September when I started work on WULF. Yet here we are. With WULF underperforming Bitcoin, Riot Platforms RIOT 0.00%↑ , CleanSpark CLSK 0.00%↑ , Iris Energy IREN 0.00%↑ , Bit Digital BTBT 0.00%↑ and just about every other miner in the public equity markets.
The question is why?
Keep reading with a 7-day free trial
Subscribe to Heretic Speculator to keep reading this post and get 7 days of free access to the full post archives.