DeFi

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/defi-technologies-faces-major-stock-drop" data-wpel-link="internal" rel="noopener noreferrer nofollow">DeFi Technologies Faces Major Stock Drop</a><br></p>
<p style="text-align: justify">DeFi Technologies Inc., a publicly traded provider of decentralized finance products, saw its shares plummet nearly 28% on June 18. The sharp decline followed the company’s criticism of a report which claimed the recent recovery of its stock was for dubious reasons. The controversial report was published by CoinSnacks, a crypto-focused <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">news</a> outlet, and it alleged that DeFi Technologies had engaged in suspicious email campaigns.</p>
<h2 id="why-are-defi-technologies-shares-dropping">Why Are DeFi Technologies’ Shares Dropping?</h2>
<p style="text-align: justify">CoinSnacks’ report accused DeFi Technologies of paying crypto influencers to promote its stock, which had surged 3,400% over the past year. DeFi Technologies responded with a press release on June 19, refuting these allegations as baseless and accusing CoinSnacks of acting in the interests of short sellers. CoinSnacks has denied these claims.</p>
<p style="text-align: justify">Yahoo Finance data showed that DeFi Technologies’ stock closed at 3.10 Canadian dollars on June 17, reflecting a 320% gain since the start of the year. However, the stock dropped 27.7% to close at 2.24 Canadian dollars on June 18, before slightly rebounding to 2.30 Canadian dollars by June 19.</p>
<h2 id="how-did-key-figures-influence-the-situation">How Did Key Figures Influence the Situation?</h2>
<p style="text-align: justify">The CoinSnacks report alleged that DeFi Technologies funded an email and influencer campaign to bolster its shares, citing 15 promotional emails sent over ten days. The report also mentioned that notable crypto influencers Anthony Pompliano and Will Clemente, who are associated with the company’s joint venture Reflexivity Research, supported these promotions.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<p style="text-align: justify">It’s essential for investors to be vigilant and consider the following:</p>
<ul>
 <li>Evaluate reports critically, considering potential biases or motives behind them.</li>
 <li>Monitor <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">stock performance</a> closely, especially after significant news or allegations.</li>
 <li>Understand the role of influencer endorsements in stock promotions.</li>
</ul>
<p style="text-align: justify">In conclusion, DeFi Technologies strongly criticized the CoinSnacks report, labeling it defamatory and misleading. The company believes the report was crafted to benefit short sellers by driving down its stock price. CoinSnacks, however, maintains that their report was impartial and not influenced by short sellers.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/defi-technologies-faces-major-stock-drop" data-wpel-link="internal" rel="noopener noreferrer nofollow">DeFi Technologies Faces Major Stock Drop</a></h5>

DeFi Technologies Faces Major Stock Drop

Table of Contents

BH NEWS

Other articles published on Jun 20, 2024

Bitcoin Price Analysis: Why is BTC Charging To $70,000?

Ethereum Founder Thinks Synchronous Atomic Composability is Overrated

Dogecoin Funding Rates Turn Negative As Short Sellers Eye Further Losses

Analysts Evaluate Recent Trends in Cryptocurrency Market

Ethereum Could Reach $10k In 2024, Despite MVRV Rise

Konami partners with Avalanche for Resella NFT platform launch

Join our free newsletter for daily crypto updates!