Monday, January 01, 2018 2:09:16 PM
GCAP
Dec.28,2017'Super spike' in Gain Capital possible today, says bull; shares up another 28%
Gain Capital (NYSE:GCAP) rose more than 25% yesterday after Richard Pearson picked the broker as a blockchain play with an actual real business.
Shares are up another 28% in premarket action, with Pearson suggesting a "super spike" as possible in the year's final trading session.
He notes the "Dinner Table Effect," in which crypto assets spiked higher following Thanksgiving and Xmas. Markets adjust quickly, and he now expects traders to buy in front of New Year's.
There's also the "let it ride" effect - with many sitting on big gains, why sell today and have taxes due with your 2018 return, when selling on Tuesday means taxes would be deferred until 2019?
GCAP Gain Capital
Dec.28,2017'Super spike' in Gain Capital possible today, says bull; shares up another 28%
Gain Capital (NYSE:GCAP) rose more than 25% yesterday after Richard Pearson picked the broker as a blockchain play with an actual real business.
Shares are up another 28% in premarket action, with Pearson suggesting a "super spike" as possible in the year's final trading session.
He notes the "Dinner Table Effect," in which crypto assets spiked higher following Thanksgiving and Xmas. Markets adjust quickly, and he now expects traders to buy in front of New Year's.
There's also the "let it ride" effect - with many sitting on big gains, why sell today and have taxes due with your 2018 return, when selling on Tuesday means taxes would be deferred until 2019?
GCAP Gain Capital
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