ARGO spread too wide?

Please can someone help explain the large spread on the ticker ARB? The current spread is 23p which doesnt make any sense if just do to with low liquidity- on freetrade the spread is nowhere near as wide.

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270 ASK and 250 BID is correct

Isn’t FreeTrade market data delayed? Yep just checked the app, says it’s 15 minutes delayed, or maybe that’s just because I don’t have a plus account - not sure as I don’t use the app

The price shown is last trade too not ASK

@David why do we not have 270 / 250 like other brokers that have a raw spread?

Is this Bloomberg being weird again.

@ashleykoya so that £2.62 was either trade number 2222 or 2227 or 2235 (rounded).

T212 (should be) showing the offer column (270 ASK like the HL screenshot above)

Screenshot 2021-03-01 at 09.44.09

But yes the 20p spread seems cheeky to answer your OP.

The huge spread on Argo Blockchain stock is actually working in your favour, stopping you to make a big mistake and sell this gem.
Just buy more, and forget about them for a few weeks at least, check Argo again after we’re trading on Nasdaq and only then look at the sell price and spread…
Until then, it’s Buy Zone, HODL and diamond hands…
The bigger the spread, the better ! I love it !

Is an uplisting on the cards? By that I mean have they applied for it?

Sorry, asking here as I’m looking at this for a swing at best.

All conditions have been met, so it’s only a matter of time before an RNS with application, then 6 weeks waiting time :slight_smile:
Peter Wall, Argo CEO, told us a few times that uplisting is always the plan.
When Argo reaches Nasdaq, RIOT and MARA will look like little children :slight_smile:

I’m not following here.

Its just been upgraded (24 Feb) onto OTCQX from OTCQB

OTCQX < OTCQB < Pink Sheets

So it now trades as ARBKF on the OTCQX so its still on the OTC Markets just in the highest tier.

@Emerik are you saying they have also applied to get off OTC and be on the Nasdaq (New York) exchange instead?

Nope, I’m saying that uplisting to OTCQX is just the last step before Nasdaq.
All conditions have been met for nasdaq application and that’s Argo’s real target.
management team is obviously smart enough to see that MARA and RIOT are rubbish in comparison but they get access to a bigger pool of investors hence they can dilute and get their hands on lots of cash. In this bull market it’s a race to get your hands on more mining rigs and expand faster, so nasdaq is a must for Argo.
Vast majority of investors are expecting an RNS these days with Nasdaq application. I don’t think they applied yet, but it’s a matter of when not if… That all I’m saying.
GLTA

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I can confirm Argo are checking NASDAQ listing for feasibility ! Screenshot_20210301_111514_com.google.android.gm|230x500

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The price feed of Argo Blockchain is derived from Bloomberg and should be regarded as an indication of the price, however, it cannot serve as a basis for the execution. I would like to stress the fact that all orders are filled via a smart routing system in tune with all best execution policies and regulations.

The instrument is traded via the SETSqx trading service, which has been discussed in details on several occasions. You can find out more about it here.

@Y.M any particular reason why the Bloomberg data feed is not bringing through the current BID ASK to the same precision as all other brokers?

It’s weirdly almost correct.

As you can see 271.700 whilst ever other broker was showing 270p on the dot. You can see the Time and Sales with the ask/bid.

The ask and bid on ARGO moves in clear increments of pennies and using 5p, 10p, 15p or 20p spread.

@David can you get your Bloomberg terminal out please to compare to the Bloomberg feed.

February - great month for ArgoBlockchain

  • Increase in mined Bitcoin from 93 to 129 (Jan to Feb)
  • Gross mining margin increase to 81%
  • HODL = 600 Bitcoin
  • Hashrate 1075 ph/s

The new S19 mining rigs delivered in Febr running in beast mode !?
March will be EPIC !

This is Retirement 1o1
#Knockin’ On NASDAQ’s Door

and a brilliant CEO who communicates everything with investors:

GLTA

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