Crypto equities held steady in after-hours trade even after Bitcoin’s price dipped below $91,000 on Wednesday night.
- Semler Scientific led after-hours gains among crypto-linked equities ahead of a shareholder vote on its proposed merger with Strive Asset Management next week.
- GPUS’ stock fell over 6% after hours, after a surge of over 40% in regular trading.
- MSTR and BMNR held steady in post market hours.
Semler Scientific (SMLR) outperformed crypto-linked equities in late Wednesday trading, even as Bitcoin (BTC) slipped below $91,000, with investors positioning ahead of a shareholder vote on its proposed merger with Vivek Ramaswamy-backed Strive Asset Management (ASST) next week.
SMLR’s stock rose 1.68% in after-hours trading, reversing earlier losses after the shares fell 2.73% during the regular session. The all-stock transaction, expected to close next week pending approval, would significantly expand the combined company’s Bitcoin treasury to more than 10,900 BTC, potentially making it the fifth-largest U.S. digital asset treasury.
Retail sentiment around SMLR on Stocktwits strengthened to ‘extremely bullish’ from ‘bullish’ over the past day, with chatter reaching ‘high’ levels.
Shares of ASST also edged higher after hours, gaining 0.98% following a 1.92% drop earlier in the day. Retail sentiment around the company on Stocktwits trended in the ‘extremely bullish’ zone over the past day, accompanied by ‘high’ levels of chatter.
Hyperscale Data Surges, Then Retreats
Hyperscale Data (GPUS) skyrocketed over 40% in regular trading, leading gains for the day among crypto equities, after the company released early estimates of its total assets and net asset value per share as of December-end. It announced total assets at roughly $369 million. Estimated net assets were pegged at approximately $168 million.
Hyperscale Data noted that cash and Bitcoin holdings of about $91 million account for a substantial portion of its asset base, GPUS’ stock fell more than 6% after hours, worst-hit, in after hours trade among crypto equities. On Stocktwits, retail sentiment around the stock remained in ‘extremely bullish’ territory over the past day with chatter at ‘extremely high’ levels.
Mixed Moves Across Crypto Equities
SharpLink Gaming (SBET) moved higher after hours despite getting a price target cut from Alliance Global. Alliance Global lowered its price target on SharpLink Gaming to $20 from $48 but kept a ‘Buy’ rating on the shares. The company holds 864,402 Ethereum (ETH) worth about $2.9 billion. The firm pointed out that the price of ETH is down about 30% since the firm's last report, driving its lowered price target.
SBET’s stock moved 1.38% higher in after-hours trade, after dipping around 1.93% in the regular session. On Stocktwits, retail sentiment around SBET fell to ‘bullish’ from ‘extremely bullish’ over the past day while chatter remained at ‘high’ levels.
Bitcoin-treasury GameStop (GME) shot up 3% in regular trade after announcing that its board has granted a performance-based stock option award to Ryan Cohen, the company's chairman and CEO. GME’s stock edged 0.25% higher after hours. On Stocktwits, retail sentiment around the meme stock flipped to ‘bullish’ from ‘bearish’ over the past day as chatter rose to ‘high’ from ‘low’ levels.
The largest corporate holder of Bitcoin, Strategy (MSTR), was trading flat after-hours after a gain of 2.44% in regular trading as the MSCI’s decision to defer restrictive exclusion rules extended the rally for DATs, even as Bitcoin’s price slipped during regular trading to under $91,000.
Tom Lee-backed Bitmine Immersion Technologies (BMNR), the largest corporate holder of Ethereum, edged 0.53% higher in after-hours trade after a fall of over 6% in regular trading. On Stocktwits, retail sentiment around BMNR’s stock trended in ‘bullish’ territory over the past day while chatter stayed at ‘high’ levels.
The SPDR S&P 500 ETF Trust (SPY), the SPDR Dow Jones Industrial Average ETF (DIA), and the Nasdaq-100 tracking Invesco QQQ Trust (QQQ) were trading marginally in the green after-hours. Retail sentiment around SPY on Stocktwits remained in ‘bullish’ territory over the past day while chatter increased to ‘high’ from ‘normal’ levels.
Read also: Crypto Markets Drift Into Year-End With Bitcoin, Ethereum Range-Bound
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