The Canadian blockchain stocks we have uncovered are more than 100% more volatile than the overall market
SmallCapPower | July 13, 2018: Bitcoin prices have jumped around significantly over the past month, with over a dozen US$200+ shifts, resulting in a net decline of 8.5% to US$6,200. Today, we have identified a number of Canadian blockchain stocks that are over 100% more volatile than the overall market. The closer beta is to 1, the higher correlation that stock has with the overall market. For instance, a stock with a beta of 0.5 would move 50% less than the market, while a stock with a beta of 2 would move twice as much as the market.
Glance Technologies Inc. (CSE:GET) – $0.38
Software
Glance Technologies provides payment solutions to clients primarily in the restaurant business. The Company’s Glance Pay app allows users to pay restaurant bills without the need for a card machine, and offers restaurants tools such as expense tracking, rewards and records for bookkeeping purposes. Glance operates its own cryptocurrency for use in its app, as well as a subsidiary in the cannabis payment vertical.
- Market Cap: $51.5M
- Daily Beta – 90 Day: 4.00
- Daily Beta – 180 Day: 4.35
- 3 Month Total Return: -7.4%
- YTD Total Return: -81.7%
Datametrex AI Ltd. (TSXV:DM) – $0.08
Software
Datametrex AI provides cloud-based data solutions to Big Data clients in the retail sector. The Company announced plans to incorporate blockchain technology into its current software to further authenticate and validate data collected. Its Ronin subsidiary has a cryptocurrency mining facility in Quebec and a 150MW facility in China.
- Market Cap: $15.1M
- Daily Beta – 90 Day: 0.95
- Daily Beta – 180 Day: 2.93
- 3 Month Total Return: -37.5%
- YTD Total Return: -78.6%
Fintech Select Ltd. (TSXV:FTEC) – $0.10
Financial Levies & Blockchain
Fintech Select provides pre-paid card programs and mobile banking solutions and has recently incorporated blockchain technologies onto its existing platforms. The Company created Selectcoin, a platform that enables existing point of sale terminals (POS) to act as cryptocurrency exchanges. The platform remains in the process of activating in retail locations across Canada. On July 9, the Company announced a partnership with RMA, a retailer member rewards company, to deploy RMA’s merchant acquiring services across the Company’s locations.
- Market Cap: $6.4M
- Daily Beta – 90 Day: 1.37
- Daily Beta – 180 Day: 2.15
- 3 Month Total Return: -28.6%
- YTD Total Return: -72.2%
Mogo Finance Technology Inc. (TSX:MOGO) – $3.85
Consumer Lending
Mogo Finance Technology is a Canada-based IT company. The Company operates a suite of financial services technologies, including identity fraud protection, Bitcoin wallet, and loan solutions. The Company has 600k active users across its PC and mobile apps.
- Market Cap: $85.0M
- Daily Beta – 90 Day: 1.78
- Daily Beta – 180 Day: 2.10
- 3 Month Total Return: 19.9%
- YTD Total Return: -38.9%
Healthspace Data Systems Ltd. (CSE:HS) – $0.05
Software
Healthspace Data Systems is a Canada-based software company. The Company’s primary offering is its Healthspace CS Pro suite, which provides a cloud-based app suite for inspections. The program offers data analytics, organizational activity monitoring, and customizable applications. On December 6, the Company announced it had signed an LOI with SIMBA Chain Inc. to integrate blockchain technology into its app suite.
- Market Cap: $7.0M
- Daily Beta – 90 Day: 3.15
- Daily Beta – 180 Day: 2.06
- 3 Month Total Return: -41.2%
- YTD Total Return: -73.7%
Ubika Research/SmallCapPower has received compensation from Fintech Select and Healthspace Data Systems to provide analyst research coverage. For full disclosure please visit here >>
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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