We recently published Ten stocks that already suffered damage in December. American Bitcoin Corp (NASDAQ:ABTC) is one of the best performers on Monday.
American Bitcoin Corp (NASDAQ:ABTC) fell 15.57 percent on Monday to end at $3.58 apiece, as investors got back on track following the decline of its top asset earlier in the day.
On Monday alone, Bitcoin lost 0.058 percent to hover around the $86,000 level. Its current value marked a 21.6 percent drop from the $110,000 territory in just the last 30 trading days.
In other recent news, American Bitcoin Corp (NASDAQ:ABTC) posted a net profit of $3.47 million from a net loss of $576 million in the same period last year. Revenue increased 453 percent to $64.22 million from just $11.61 million year over year.
“The third quarter validated the thesis behind American Bitcoin,” said Eric Trump, chief strategy officer and co-founder of American Bitcoin Corp (NASDAQ:ABTC).
“While others paid cash, we generated Bitcoin below market through scalable, asset-light mining operations. Along with disciplined market buying, we added over 3,000 Bitcoin to our reserve. This dual strategy is how we intend to increase value for our shareholders and solidify our position as a capital-efficient platform for long-term Bitcoin accumulation,” he noted.
American Bitcoin Corp. (NASDAQ:ABTC) is a Bitcoin accumulation platform and is majority owned by publicly traded company Hut 8 Corp.
While we recognize the potential of ABTC as an investment, our conviction lies in the belief that some AI stocks have more promise to generate higher returns and have limited downside risk. If you’re looking for an extremely cheap AI stock that’s also one of the biggest beneficiaries of Trump’s tariffs and offshoring, check out our free report on the best short-term AI stock.
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Disclosure: None. This article was originally published in Internal jumpsuit.