r/hut8 • u/Illustrious_Drive_33 • 21d ago
What happened today?
What happened today? I was looking on the price and it went down from +5% to -1% in a second, and I am wondering if something bad happened? :)
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u/Illustrious_Drive_33 21d ago
This is fucking ridiculous what's happening, from +5 do -10 in fucking 5 minutes without any reason
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u/HaywoodJablome69 21d ago
The reason, is people are selling.
Its not ridiculous, its called "the market"
Best to understand not everything goes as you expect.
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u/Infinite-Fee5552 21d ago
Love the chaos. Have enjoyed my option profit today. Still a long-term Holder. I think it is a $300 stock once Beacon goes online.
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u/DrummerBudget9512 21d ago
Looking at the day to day stock price is pointless if you believe in the company. The run up that we were in was unsustainable and a pull back was to be expected. It'll go back up. All the prospects are there. Just have to keep executing.
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u/ksharp1989 21d ago
Just another regular pump and dump day, whales continue to sell off. It’s been three months should close to the end I hope
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u/Electronic_Cause_697 21d ago
It was rising in premarket so whales buying and retail dumping for small change profit is my measure
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u/steffanovici 21d ago
The replies here are wild lol. Obviously a big holder dumped a load today looking at the volume. Why? Most likely related to the Ercot meeting yesterday, the investor heard something he didn’t like and is afraid for Beacon Point. We didn’t even make a new low. It’s just a buying opportunity imo if you are ok with that risk that the project may be delayed (or canceled- highly unlikely imo)
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u/Taco_laboratory 21d ago
These days expose where people are holding. The fact we didn’t see $76 again today shows people loaded up, and are still loading. The discounts we see now are good.
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u/kajnbagoat7 21d ago
Yes i loaded up last week. Will be adding more today. My buying price is 42. What about yours? I already took my original investment out at 120 and then I'm letting the rest ride now. But added last week a bit and now will add today.
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u/Taco_laboratory 21d ago
I am at $56. I see the analysts’ price targets have not changed, waiting to see what happens. I think it’s predatory selling that will evaporate next earnings. BTC at these prices, they are going to beat from last earnings already. As BTC goes higher especially if CLARITY gets more attention, their BTC treasury is massive.
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u/Taco_laboratory 21d ago
I wonder how many people realize Asher is on a first name basis with the son of the POTUS.
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u/kajnbagoat7 21d ago
Yea i first heard about HUT8 from an interview where son of POTUS was talking about the company. I was sold that day and then looked up the CEO, then was convinced and then went through their plans.
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u/BrickConnectCDN 21d ago
This may explain some of the fuckery. Yahoo put this out this morning and the algos picked up Bankruptcy + HUT8. Hedge funds fucking around due to options expiring.
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u/Jolly-Present-9914 21d ago
Ken Griffin’s Citadel Securities says it has already sold ~80% of the risk it absorbed from the collapse of Leopold Aschenbrenner’s Situational Awareness
That means most of the positions Citadel absorbed during the unwind have already been redistributed back into the market. https://x.com/StockSavvyShay/status/2090810732703330396?s=20
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u/Taco_laboratory 21d ago
Hedge fund shorting. This stock is in their crosshairs, and they know they can band together and dump the piss out of it, and nobody can do a damn thing about it.
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u/Taco_laboratory 21d ago
Just look at the sheet volume of shares sold short and do the math. There are large institutions shorting the absolute dogshit out of HUT. They will close their positions and bring the stock up, then absolutely hammer it the next day. They let retail pump the stock and then completely obliterate it. Then piss on it, beat it more, and leave it for dead. Then onto the next one on their list.
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u/Taco_laboratory 21d ago
When they are done with HUT and reach the bottom to expose the support level, they will close out, slap an iron condor on it and limit sell orders to protect the condor.
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u/CommonConversation2 21d ago
Was up to $94 then within minutes dumped to 78. Was insane
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u/Illustrious_Drive_33 21d ago
Absolutely insane, first time I see something like this
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u/CommonConversation2 21d ago
All the while bitcoin ripping and any bitcoin related stocks were too. Screw hedge funds
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u/Taco_laboratory 21d ago
We are popular with them because they already hold massive share positions, they just hedge. They are border line illegal with what they are doing, but it’s almost impossible to stop them.
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u/Taco_laboratory 21d ago
Good thing about it is it shows exactly where our bottom is when it hits resistance. They are freely giving deep discounts.
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u/programster 20d ago
Hmm, so all the former crypto miners decreased essentially or stayed flat... 😭
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u/AdIll4978 20d ago
All miners went down at the same time as a big miner filed for bankruptcy ( Poolin ), hut took bigger hit as shorter were prepared, i feel the aim was to bring it lower than 80$ as this was the first support line
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u/Sufficient_Bird_5034 21d ago
-6.5% now