It had to happen eventually. After climbing 1,200% in one month to a record high of 145p, the Argo Blockchain (LSE: ARB) share price has fallen. As I write, the Bitcoin miner’s stock is trading at around 101p, down by around 30% from its 7 January high.Is ARB just pausing for breath, or has the firm’s rocketing share price already peaked? That’s what I need to know before deciding whether to buy shares in this business, whose revenues quadrupled during the first half of 2020.5G 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 we’ll show you something that could be key to unlocking 5G’s full potential…ARB share price vs BitcoinOne thing I’m sure of is that Argo’s progress will continue to be closely linked to the Bitcoin price. Bitcoin peaked at almost $42,000 last Saturday. Since then, it’s fallen by more than 15% to under $35,000.Argo Blockchain’s share price movement reflects this. The stock peaked on 7 January and fell sharply when markets reopened on Monday 11 January (unlike Bitcoin, shares don’t trade over weekends).This makes sense to me. Argo gets paid in Bitcoins for its mining activities. So the firm’s revenue growth is a multiple of the number of Bitcoins it mines, and the price of those coins.Here’s a problemAs I understand it, the difficulty of mining new Bitcoins increases as computing power is added to the network. As the Bitcoin price has risen, Argo Blockchain has been increasing its mining power. According to the latest update from the firm had 16,000 mining machines at the end of December. A further 4,500 new models are expected by February.I’d guess that with Bitcoin at record levels, other miners are adding capacity too. All of this suggests to me that Argo Blockchain’s costs will rise if Bitcoin keeps rising.If Bitcoin falls, mining costs might fall too. But Argo’s revenue (from selling new coins) would probably be lower too. I’d guess that lower revenue would cancel out some of the benefit of lower costs.Argo’s revenue during the first half of last year was £11.1m, up from £2.9m during the first half of 2019. But the group’s profits fell during the same period as it cranked up spending on new machines. Argo’s half-year net profit was just £0.5m, down from £1m during H1 2019.We don’t have figures for the second half of 2020 yet. But even if the company’s profits tripled during the second half of the year, that would still give an annual profit of just £2m. For a company with a market cap of over £300m, that seems mighty expensive to me.Argo Blockchain share price: what I’d doArgo has been a successful trade over the last six months. But at the current share price, I really don’t see this as a long-term investment. In my view, many years of successful growth are already priced-in to this stock.If Bitcoin keeps rising, I think this business might eventually grow into its valuation. But I think a more likely scenario is that the valuation has reached bubble levels and will deflate at some point.I don’t plan to buy any Argo Blockchain shares. Indeed, if I owned the stock today, I’d most likely sell. Roland Head | Wednesday, 13th January, 2021 | More on: ARB Image source: Getty Images I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Simply click below to discover how you can take advantage of this. See all posts by Roland Head I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Enter Your Email Address Our 6 ‘Best Buys Now’ Shares Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Roland Head has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. 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RSF_en January 30, 2007 – Updated on January 20, 2016 Journalist sent back to prison over libel case dating back to 2002 News May 18, 2021 Find out more News News EthiopiaAfrica Reporters Without Borders today condemned the Ethiopian supreme court’s decision on 26 January to reject an appeal by journalist Abraham Reta of the privately-owned weekly Addis Admas and send him back to prison to complete the one-year sentence he received in May 2006 for allegedly libelling three senior officials.“We will not be able to talk of press freedom in Ethiopia as long as heavy prison sentences are been handed down in such an abnormal manner on journalists whom the government sees fit to classify as opposition members,” the press freedom organisation said. “A way must be quickly found to release all the journalists who are in prison. Detaining part of the press and making the other part live in fear of being detained will only aggravate the general situation.”Reta was convicted of libel last year over an article published in 2002, when he was editor of the now-defunct weekly Ruh. He was accused of having no evidence for linking three senior officials to a corruption case.He was arrested on 24 April 2006 and spent three months in prison before being released conditionally pending the outcome of his appeal. After several appeal hearings in which he insisted on his innocence and was forced to identify his source, he has been sent back to prison to serve the nine remaining months of his sentence.Imprisoning journalists in cases that date back years is common practice in Ethiopia. Leykun Engeda, the former editor of the now-defunct weekly Dagim Wonchif, was sent to prison on 27 December to serve the 15-month prison sentence he had received in December 2005 on account of a 1999 article about a rebel movement called the Ethiopian Patriotic Front. He had appealed to the supreme court. Tesehalene Mengesha, the former editor of the privately-owned weekly Mebruk, was sentenced on 5 May 2006 to 18 months in prison in a libel case going back seven years. Abraham Gebrekidan, the editor of the now-defunct weekly Politika, received a one-year sentence in March to 2006 for “publishing false news” in a 2002 article. Wosonseged Gebrekidan, the editor of the privately-owned weekly Addis Zena and former editor of the privately-owned weekly Ethiop, was sentenced to eight months in prison in December 2005 for alleged libel in a 2002 article which he did not write.A total of 21 journalists are currently detained in Ethiopia. Fifteen of them belong to a group of at least 76 people – opposition members, civil society leaders and privately-owned media staff – who have been facing trial since late 2005 on charges of treason, conspiracy to overthrow the government and genocide.Two other journalists, Shiferraw Insermu and Dhabassa Wakjira of the state-owned Ethiopian Television (ETV), have been held since April 2004 on charges of being informers for the separatist Oromo Liberation Front (OLF). Journalist attacked, threatened in her Addis Ababa home Follow the news on Ethiopia to go further News RSF condemns NYT reporter’s unprecedented expulsion from Ethiopia May 21, 2021 Find out more Help by sharing this information February 10, 2021 Find out more Receive email alerts Ethiopia arbitrarily suspends New York Times reporter’s accreditation EthiopiaAfrica Organisation
The $188 million Marriott Employees Federal Credit Union asked a federal judge to throw out a civil lawsuit brought by two members. They claimed the Bethesda, Md.-based credit union violated the Truth in Lending Act by failing to disclose the true cost of mini-loans for which members were allegedly charged an interest rate of 46%.MEFCU argued in documents filed in U.S. District Court in Philadelphia earlier this month that the lawsuit failed to prove TILA violations.The lawsuit’s plaintiffs are Katherine Payne and Arthur Coates both of Philadelphia who are Marriott hotel employees. Since the hotel chain controls the amount of hours employees work, they use MEFCU’s $500 mini-loan to make ends meet whenever their employer reduces their work hours, according to the lawsuit.Payne’s and Coates’ MEFCU’s mini-loan credit agreements disclosed an 18% APR based on a finance charge of $29.23 for the six-month loan. However, Payne and Coates were also required to pay a $35 application fee after their loans were approved. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr
DUBAI, United Arab Emirates (CMC) – Reigning World champions West Indies have slipped to ninth in the new expanded ICC Twenty20 team rankings.In the latest release yesterday which reflects changes following the annual update, the Caribbean side found themselves only above Bangladesh of the long-standing Test-playing nations.After results from 2015-16 were removed and those between 2016-18 weighed at 50 per cent, West Indies were overtaken by minnows Afghanistan who moved up one place to seven and Sri Lanka who also climbed one spot into eighth.The ranking represents the lowest for the Windies since they won their second T20 World Cup title in 2016, when they beat England in a dramatic final in Kolkata.Since that conquest, however, the Windies form has dropped off considerably, losing 13 of 17 T20 Internationals over the last 17 months.They will defend their title in Australia next year when the T20 World Cup bowls off from October 18 to November 15, 2020.Pakistan have meanwhile strengthened their position at the top of the rankings on 286 points but only four points separate the next four teams in the table. South Africa lie second on 262, England are third on 261 while Australia sit in fourth spot, also on 261 points.India (260) are fifth, six clear of New Zealand who boast a considerable 13-point gap on Afghanistan.For the first time the ICC has expanded the rankings to include all 80 members, with the likes of European nations like Austria and Luxembourg, along with African sides like Botswana and Mozambique comprising the new table.
SHAY GIVEN and Aiden McGeady will start for Ireland against Macedonia tonight, with the Lifford man expressing his surprise at recent controversies surrounding ‘missing’ players.“It’s been disappointing, very disappointing,” said Shay of the situation which saw four players fail to turn up for recently friendlies.One of them was James McCarthy whose Donegal connections meant he decided – like Aiden McGeady – to play for Ireland instead of Scotland. Ultimate professional Shay would never talk about specific players.But he did say: “You know, it’s a massive game on Saturday. Last week’s games against Northern Ireland and Scotland were great preparation for everyone.“I don’t know what words you can . . . someone wrote in the papers that (Giovanni) Trapattoni might have to summon three players to play in Macedonia, and I just looked at that and thought ‘if that’s what it’s come to, there is something really badly wrong’.“They should be queued up outside the hotel to get in the squad and pestering him when they’re not, instead of the other way around. It’s very disappointing, but this is the way of the world.” Asked if he thought there is a change in attitude to playing for your country, the Man City goalkeeper said: “I don’t know, but when I was younger I was desperate to come over, meet up and play in the games.“Idon’t know why that seems to have changed. It shouldn’t have changed. It should be the same buzz. I still look forward to coming over and playing, still, after 15 years, I think.“I don’t understand some of the mentalities.”And he wants to focus on helping Ireland win tonight’s Euro Qualifier (kick-off 8pm).He added: “I just think if we can get at Macedonia a bit, they’ve got some weaknesses. If we can impose our game on them I think we’ve a good chance of getting the right result. “A win, of course, would be ideal, we’re not going out just to shut up shop and hoping to come away with a point. We want to win the game and there’s no reason we can’t. I’ve a few weeks off after that before we go back pre-season.“That would be fantastic for the whole country, to finish on a high. And it’s important to get the right result because you’ll be seething for the whole summer if you don’t. Hopefully we can do that.”SHAY: ‘I CAN’T UNDERSTAND WHY SOMEONE WOULDN’T WANT TO PLAY FOR IRELAND’ was last modified: June 4th, 2011 by gregShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)