Steemit is updating again. When bad news can be a good news: Sprint

After separation of social condenser and wallet, Steemit is adding social features. Even they are back paddling to add community proposed updates. It means we will be seeing lots of social features in coming days. However, the overall Steemit.com remains aesthetically nonchalant.

However, one of the best interface is @steempeak that can be comparable to Pinterest. Pinterest has not yet figure out revenue source but its marketcap is $19B since it has 250M. On the other hand Steem has 1.3M users, its marketcap is $112M. It roughly matches the valuation.

Does Pinterest has more utility than Steem. Nope. Pinterest is more like a DApp such as @dlike on Steem blockchain. If @dlike can have $100M marketcap, then Steem should have around $5B marketcap (50x100). EOS has similar marketcap. Does EOS has 1.3M users or as many as 20 successful DApps, probably not.

It means price is assumed by the participants and speculators.

Here comes the next example: when bad news can be good news for an asset such as Sprint stock. Sprint and T-mobile is trying to merge to become more agile and competitive to behemoths ATT and Verizon. One of the arguments from Sprint is that it is not making substantial profit to survive. It can't rollout 5G due to lack of cash. Therefore, it may not survive unless it is merged with T-mobile.

Due to uncertainty on approval from DoJ and FCC, it stock recently crashed from $6.2 to $5.5. However, merging date is delayed until July 31st.

Now, there is a news on Fox Business, titled Sprint's 'failing' finances factor in T-Mobile's $26B tie-up. Essentially, it is a bad news for Sprint. But Sprint shoot to $5.64 from $5.54 aftermarket. Tomorrow, it can rise to $5.80s. It is an irony: when bad news becomes a good news.

I missed time the recent fall of Sprint ($5.47), my average buying price is $5.7. Hopefully, tomorrow I can recover and profit few bucks from the bad news!

Disclaimer: This opinion is not a financial advice, it my personal perspective and opinion. Please seek professionals for financial decisions.

Image sources: Most images are open sourced (e.g. Pixabay, Wikimedia etc.) with Creative common license. Some images are used with due courtesy to respected owners.

Thanks for reading.
@riseofth
Cryptominer since 2013, occasional trader and tech blogger