Should You Buy Bit Brother? What Analysts Advise

Bit Brother is a ten-year-old Chinese company that is mainly engaged in the promotion and sale of tea products such as milk tea, fruit tea, etc. In addition, it offers a variety of salads, sandwiches, steaks, and pastries. Over the past month, the price of BTB has jumped 31% to $1.36. On November 12, it cost $ 2.93, which is 56% less than the annual high. The company didn’t release news that day that would affect the stock price, but discussions about Bit Brother on such social networks as Discord, Twitter, and Facebook gained momentum, which influenced the growth. However, the price fell sharply only in a week. Thus, shareholders increased their profits by 1.7% for the full year.

The past 5 years have been depressing for holders, but the recent jump holds promising prospects. Over the past week, market capitalization popped 8.6% to $ 44.938M, and revenues for the quarter are up more than 80% versus the year-ago quarter. However, many analysts were interviewed, none of the respondents gave a “buy,” or “hold” rating. All unanimously assigned a “sell” rating to this stock. In addition to these estimates, the worth may be affected by such news: a few months ago the company announced a placement of millions of common shares at $ 1.50 each, which negatively affected BTB’s price.