(PLIN) Update: Today's Nasdaq Alert Just Made A Huge Announcement Regarding Its New U.S. Headquarters
With the overall Nasdaq market in the red this morning, it could be a good time to get PLIN on your radar. Here's why...
Today the company provided a major announcement in regards to their new U.S. headquarters. Check it out:
China Xiangtai Food Co., Ltd. Announces Launch of U.S. Operation with Its New U.S. Headquarter Office in New York City
CHONGQING, China, Dec. 20, 2021 /PRNewswire/ -- China Xiangtai Food Co., Ltd. (NASDAQ: PLIN) ("PLIN" or the "Company"), an emerging growth company engaged in agricultural business with a diversified expansion strategy, today announced that it has launched its U.S. operation with the establishment of its U.S. headquarter office in the prestigious Seagram Building in New York City. PLIN's establishment of the New York office marks an important milestone within the Company's global expansion strategy as a U.S. listed company. The U.S. operation will be led by its senior executive team in the U.S.. This strategic move is to set the foundation for the Company's diversified growth initiative within the U.S., as well as to demonstrate the management team's ambition and determination of creating long term value to shareholders and in-vest-ors.
"As the operational need of our newly expanded business in U.S. begins to build a strong momentum, it is necessary to establish our physical presence in U.S. accordingly to improve daily operations as well as further exploring new growth opportunities," said Dr. Erick Rengifo, Chief Strategy Officer of the Company, "New York City is the fin-an-cial center of the world. Being a Nasdaq-listed company, it is natural for us to have our first U.S. office in New York City. We look forward to ramping up our cry-pto operation and begin to establish a presence in the collaborative and innovative cry-pto community."
Read the full article here.
This huge milestone could be a true game-changer for the company as it continues to grow its U.S. presence.
It's important to note that PLIN is still trading above several key lines of potential support despite its slow start to the day along with a good portion of the overall Nasdaq market.
With PLIN trading above its:
- 50-Day Simple Moving Average (SMA),
- 100-Day SMA, and its
- 200-Day SMA,
this profile is showing that it has grown significantly over the last several months and could be prepared for even more future growth.
On top of that, from more of a technical standpoint, PLIN still has several bullish technical indicators across the short, medium, and long term.
Here's a quick recap of the triggered short term technicals:
Short Term Indicators
- 20 - 50 Day MACD Oscillator
- 20 - 100 Day MACD Oscillator
- 20 - 200 Day MACD Oscillator
Plus, Barchart is providing an "80% BUY" opinion based on PLIN's technical indicators.
Remember, this is a low float idea that was a previous breakout star when I brought it to your attention for the first time.
Could we see that same type of move this week as today's breaking news continues to circulate?
Take a moment now and get PLIN on your radar quickly.
Listen. It's a short week, so let's not mess around.
Just before the weekend kicked off, we alerted STAL and watched it run from an open of $1.70 to a high of $2.30 on the day.
That 35% intraday surge resulted in STAL becoming our latest champ, and a nice little present heading into the week of Christmas.
But before you pack it in and get ready for a few days off, I've got another past champ to bring to your attention.
Previously running more than $2.00+ (approx.) when I brought it to your attention back on March 20th of last year, this Nasdaq idea could be due for a possible breakout based on several potential catalysts.
And on top of that, this company has made a major shift to enter the global block-chain technology market which is expected to reach $394.60Bn by 2028, according to a new report by Grand View Research, Inc.
For these reasons and more, there is only one Nasdaq profile to have on your radar this morning:
China Xiangtai Food Co., Ltd. (PLIN)
China Xiangtai Food Co., Ltd. engages in the wholesale and retail of feed raw material in China. It distributes feed raw materials consisting of soybean meal and soybean oil. The company sells its products to animal husbandry businesses, feed solution manufacturers, and trading companies.
But more importantly, the company appears to be making a crucial shift at a potentially opportunistic time.
Here's what leads me to believe something special is changing within the company...
*Recent Hires Could Be Major PLIN Game-Changers*
Acting as potential catalysts, PLIN has made a few key hires that could point towards a significant shift for the company's future.
First off, on December 6th, the company did this:
China Xiangtai Food Co., Ltd. Announces Appointment of Senior Economist and Sophisticated Block-chain Scholar Dr. Erick W. Rengifo as Chief Strategy Officer and Director and Asset Management Expert Dr. Jiaming Li as President
CHONGQING, China, Dec. 06, 2021 (GLOBE NEWSWIRE) -- China Xiangtai Food Co., Ltd. (NASDAQ: PLIN) ("PLIN" or the "Company"), an emerging growth company engaged in agricultural business with a diversified expansion strategy, today announced the appointment of Dr. Erick W. Rengifo as Chief Strategy Officer and Director and Dr. Jiaming Li as new President to succeed Mr. Xiaohui Wu, who has resigned on December 6, 2021.
Dr. Erick W. Rengifo is a Professor of Economics at Fordham University in New York. He is the founder of Terra Global Asset Management LLC, a registered in-vest-ment ad-visor, and Terra Fintech LLC, a technology firm cataloged by the SEC as a large tra-der. Dr. Rengifo specializes in full latency trading spectrum, algorithmic and mathematical and statistical strategies, as well as active and passive portfolio management. He has several years of research experience in Block-chain technology and its applications as well as significant experience in cry-pto-currencies. Dr. Rengifo is a PhD in Economics from the Catholic University of Louvain in Belgium. He serves in the investment committee of Fordham University Endowment and has been a consultant in issues related to capital markets, risk management, mining law and operations, among others.
Dr. Jiaming Li is the founder of MineOne Partners Limited, a cry-pto mining fund management company. Dr. Jiaming Li was a partner of TCC Capital and CEO of the Asset Management Center of Sinatay Ins. Co., Ltd, where he managed $11.6Bn in assets focused on fixed income, equity, debt in-vest-ment, and real estate. Dr. Jiaming Li also led the $1.2Bn acquisition of Silverbirch Hotel & Resorts. Dr. Jiaming Li is a PhD in Economics and Finance from Fordham University in New York and a postdoctoral fellow from Peking University in China.
But that wasn't all. On December 14th, PLIN made this announcement:
China Xiangtai Food Co., Ltd. Announces Appointment of Senior Block-chain Expert, Mr. Jinghai Jiang, as Chief Operating Officer
CHONGQING, China, Dec. 14, 2021 (GLOBE NEWSWIRE) -- China Xiangtai Food Co., Ltd. (NASDAQ: PLIN) ("PLIN" or the "Company"), an emerging growth company engaged in agricultural business with a diversified expansion strategy, today announced the appointment of Mr. Jinghai Jiang as Chief Operating Officer.
Mr. Jiang graduated with a degree in Industrial Automation from Wuxi Radio and Television University in 2000. Mr. Jiang has been involved in block-chain technology since 2016, when he founded Haiyuan Culture Development Limited and Qisuan Technology Limited to research and apply block-chain technology. Mr. Jiang also created the online community "Big Cabbage Block-chain" and has published multiple white papers to teach block-chain technology and the cry-pto-currency business. As a result of his efforts, Mr. Jiang has become a global leader in the cry-pto-currency industry.
That's some pretty interesting stuff from a company that "distributes feed raw materials consisting of soybean meal and soybean oil."
So when I saw this next potential catalyst, my eyes almost exploded.
Huge Company Shift Underway? This Purchase Agreement News Says It All...
Last week on December 15th, PLIN shocked the markets with this announcement:
China Xiangtai Food Co., Ltd. Announces Completion Of Its First Purchase Of Spot Bit-coin Miners Worth $7Mn With Total Hash Rate Of 69,000 Th/s
CHONGQING, China, Dec. 15, 2021 /PRNewswire/ -- China Xiangtai Food Co., Ltd. (NASDAQ: PLIN) ("PLIN" or the "Company"), an emerging growth company engaged in agricultural business with a diversified expansion strategy, today announced that the Company has entered into an asset purchase agreement through its Canadian subsidiary with a local company for the purchase of 742 spot first-tier new Bit-coin miners worth approximately $7Mn. The miners have all arrived at a mining facility in Canada and expect to begin generating revenue in Bit-coin within three days of the closing of the transaction, which will quickly help ramp up capacity from zero to 69,000 Th/s. Assuming the unit price of Bit-coin stabilizes at $50K for the first year, this new business line is expected to generate for the Company approximately $6.2Mn in revenue and contribute $4.4Mn in gross pro-fit before depreciation of miners.
Triggered Technicals Could Be Key PLIN Potential Catalysts
With all the big news happenings, it may be easy to overlook PLIN's technicals.
But I'm telling you right now... Don't.
Acting as another potential catalyst, PLIN has several bullish technicals indicators across the short, medium, and long term.
Barchart is currently reporting these technical indicators as triggered:
Short Term Indicators
- 20 - 50 Day MACD Oscillator
- 20 - 100 Day MACD Oscillator
- 20 - 200 Day MACD Oscillator
Medium Term Indicators
- 50 Day Moving Average
- 50 - 100 Day MACD Oscillator
- 50 - 150 Day MACD Oscillator
- 50 - 200 Day MACD Oscillator
Long Term Indicators
- 100 Day Moving Average
- 150 Day Moving Average
- 200 Day Moving Average
- 100 - 200 Day MACD Oscillator
Count them. That's 11 triggered technical indicators.
Could this be a signal of things to come?
PLIN: Another Low Float Profile
In recent months, we've brought several profiles to your attention that turned into intraday and short term breakout stars.
Many of these were low float profiles which is just another reason to pay attention to PLIN today.
According to the Yahoo Finance website, PLIN has a low float.
The website reports this profile to have approximately 34.11Mn shares in its float.
Why is that important? It's important on one crucial level. Volatility.
With so few shares available for trading, other potential catalysts (like big news) could spark a vertical move in the short-term.
Your Nasdaq Past Champ PLIN Recap
Let's cut to the chase because there's zero time to waste right now.
With the current company shift into the block-chain/cry-pto space, that should be enough reason to get this past champ on your radar.
Not only that, PLIN is a former champ that made a $2.00+ run when I brought it to your attention originally.
Mix in its bullish technicals and low float, and we may be watching a powder keg on the verge of explosion.
Coverage is officially reinitiated on PLIN. When you have time later, do this: