China Food and Beverage Co (CHIF)

[Renegades17]

Not surprising



While NSAV's stock price decline wasn't unexpected as it was priced to perfection and likely to see a "sell the news" exodus, I'm not as quick to condemn management as many on that board. I'm deeply involved in crypto and have direct insight into a competitive exchange (well, one based in the US). There are a number of operational challenges associated with running a custodial exchange (ie. one where coins are kept on the exchange vs. in a private wallet). Taking some extra time to iron out the operational issues and have more confidence in your security protocols is a prudent move. Perhaps they should have tempered expectations along the way, but it's hard to keep putting out PRs simultaneously as your working on problems.

With respect to the stock, NSAV, as I said, was priced to perfection even at $0.10 (let alone the 52 wk high). It's now going to be judged on customer growth, trading volume, revenue etc. Given the market cap, there were already high expectations embedded in that stock. It was priced to fail (at least short term). I actually tried to buy some to play a bounce, but my brokers don't allow me (no problems buying CHIF). I suspect there are others in a similar position.

Conversely, CHIF has VERY low expectations at this point and is going after less technically complex end markets. This stock has been left for dead due to the absence of news flow. Once news starts hitting, I firmly believe we'll go well past the 52 wk high.