Shares of blockchain oil and gas company Wildcat Petroleum (LON: WCAT) are rallying on Thursday after an update from its chairman on potential deals, blockchain, and future plans.
Wildcat said the first quarter of 2021 was a successful one, focusing on its share price that gained 4400% when it climbed to highs of 4.4p on March 18th.
Despite their efforts to obtain oil assets, they have been hampered by the ongoing Covid-19 pandemic but hope to make an announcement in the not too near distant future.
Sponsored content
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Sponsored content
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Sponsored content
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Sponsored content
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Sponsored content
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
However, Wildcat’s progress with blockchain has made progress, and after a CCEG report last month, they are now working on a business model to allow WCAT shareholders to directly receive tokens.
While Mandhir Singh, Wildcat’s chairman, was optimistic that the groundwork laid will pay off in the coming quarters, he addressed talk that the company is a “bubble stock,” stating: “The shareholders can take comfort in the fact that when the share price breached 4p, the management were sitting on a paper profit of £70m.
“However the management team were not tempted to sell a SINGLE share and cash in. The management feels that once it is able to fully implement its strategy the company will be much more valuable than its current valuation,” Singh continued.
“The management is prepared to put its money where its mouth is.”
Source: IG
Despite concerns about the company in London’s financial centre, Wildcat’s share price has made gains following today’s newsletter, currently trading at 2.70p, up 13.92%.
Should You Invest in Wildcat Petroleum Shares?
One of the most frequently asked questions we receive is, “what stocks are best to buy right now?” It’s a wide-ranging question, but one that we have answered… Our AskTraders stock analysts regularly review the market and compile a list of which companies you should be adding to your portfolio, including short and longer-term positions. Here are the best stocks to buy right now
Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.
