Is the ARB share price set for a NASDAQ boost?
It can be hard to buy a stock like Argo Blockchain (LSE: ARB) when its falling. If I like a share, I do want to buy it cheaper. But I dont want to get in if its going to fall further next week, or next month. But the ARB share price has been steadying over the past few weeks, so Im wondering if sentiment might be turning positive. Saying that, the thought of Argo Blockchain steadying has to be seen in context. The price might be down 65% since its peak in March. But its still up more than 1,300% over the past 12 months. Now thats what I call a growth stock. 5G is here  and shares of this sleeping giant could be a great way for you to potentially profit! According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air And if you click here well show you something that could be key to unlocking 5Gs full potential... It all echoes the Bitcoin price, which itself has been reasonably steady at around the $35,000 level for the past month or so. And it seems inevitable that Argo will follow the cryptocurrency up and down. Incidentally, while looking up the current Bitcoin price, I found a headline claiming that its braced for a $1.5bn July shock. Oh, and another saying its set to rocket because of something to do with Elon Musk and Harry Potter. I mention these not to poke fun, but to remind myself of the often bizarre factors that drive cryptocurrency prices. The bottom line is that none of us really has any idea of where crypto prices are going to go. Yes, there probably is, even if I havent worked out what it might be yet. I like to compare crypto miners with gold miners. Though I would not buy gold itself, I would buy gold mining shares. Id have to feel confident that my miner could carry on making a profit over a wide range of possible future gold prices. The latest update from the company told us it mined 167 Bitcoin or Bitcoin Equivalent (BTC) in June, up from 166 in May. I suppose that is growth, just. June mining revenue came in at 4.36m. Argos mining margin dropped a little from 82% in May, but 78% still suggests theres a safety buffer to some degree. ARB share price valuation  Argos market capitalisation currently stands at 477m. If we annualise June revenue to 52m, the company is valued at around nine times that. And on an asset basis, Argo is worth around 11 times its end-of-June holding of 1,268 BTC. Neither of those numbers makes me want to buy. But there is one thing that might give the ARB share price a boost. The company says its exploring a potential secondary listing on NASDAQ. There are no details yet, and it might or might not happen. But a NASDAQ listing would surely bring the company to the attention of more US investors. But the bottom line for me is that the future value of Argo Blockchain depends on factors that I havent a hope of quantifying. So its not for me.