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CleanSpark Is A Failed Business Roll-Up In A Vicious Court Battle With Its Largest Shareholder – $3 Price Target (NASDAQ:CLSK)

October 8, 2020
| No Comments
| business

CleanSpark, Inc. (CLSK) claims to provide software as a service, physical controllers, and consultation services to renewable energy infrastructure. This allows the company to have a diverse range of tools and abilities to help a client create a suitable microgrid platform. However, the reality is CLSK’s microgrid business has not gained any traction, and we doubt it ever will.

CLSK was a former OTC traded stock and got uplisted to the Nasdaq on 1/24/20. CLSK has been trading between $2-$3 from early March until early July, which is a fraction of its current price, which closed at $10.40 on 10/7/20. We believe the reason for the rapid rise in share price is due to news flow with buzz words that attract retail investors, primarily regarding microgrids and electric vehicle batteries and charging stations, sectors that have become hot this quarter.

However, its business hasn’t generated significant revenues and its losses

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China’s Ping An Insurance cements its place as HSBC’s biggest shareholder

September 27, 2020
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| insurance

Before the latest transaction, Ping An held a 7.95% share in the bank. Photo: Getty
Before the latest transaction, Ping An held a 7.95% share in the bank. Photo: Getty

Ping An Insurance Group Co (2318.HK) has increased its stake in Britain’s HSBC Holdings Plc (HSBA.L), making the Chinese insurer the company’s biggest shareholder with a 8% share.

A unit of the insurer, Ping An Asset Management Co, bought 10.8 million shares at an average price of HK$28.29 (£2.90, $3.70) per share.

It comes as British and US lawmakers criticised, HSBC and Standard Chartered (STAN.L) for supporting China’s national security law for Hong Kong, following Beijing’s handling of the pro-democracy movement in the territory.

The national security law criminalises criticism of the Chinese Communist party.

At the time, chief executive Noel Quinn, said: “We will face any political challenges that arise with a focus on the long-term needs of our customers and the best interests of our investors.”

Both banks, which are dual listed in

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