How to Capitalize on the Rebirth of Crypto (STX, GDET, OSTK)

Without doubt, the blockchain is one of the most significant revolutions of our times. It is a technology that truly changes everything. Some consider it a fourth industrial revolution when paired with AI and Internet-of-Things. That said, many of the key stocks in the space have been cut deep in the process of an important corrective period.

Now, we are looking for which might offer powerful opportunities as the space inevitably recovers. Here are three interesting names: Seagate Technology PLC (NASDAQ: STX), GD Entertainment & Technology Inc. (OTCMKTS:GDET), and Overstock.com Inc (NASDAQ: OSTK).

 

Seagate Technology PLC (NASDAQ: STX) provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. The company has become known as a core blockchain portfolio puzzle piece.

The stock has been pulling back and nearing a test of key support in the $45/share level. The RSI indicator has been pinned on oversold technical readings for the better part of the past two months, suggesting a strong signal that an important pivot may be close at hand.

The company manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.

The company’s products are used in enterprise servers and storage systems; edge compute/client compute applications, primarily for desktop and mobile computing; and edge non-compute/client non-compute applications, such as various end user devices comprising portable external storage systems, surveillance systems, digital video recorders, network-attached storages, and gaming consoles, as well as data centers.

It also provides cloud systems and solutions portfolio that includes modular original equipment manufacturer (OEM) storage systems and scale-out storage servers. In addition, the company offers external storage solutions under the Seagate Backup Plus and Expansion product lines, as well as under the LaCie and Maxtor brands in capacities up to 120TB.

The company sells its products primarily to OEMs, distributors, and retailers. Seagate Technology plc was founded in 1979 and is headquartered in Dublin, Ireland.


GD Entertainment & Technology Inc. (OTCMKTS:GDET), also known as GDET, is a result driven, blockchain-oriented company focused on becoming a premier Cryptocurrency mining facility.

GDET will build and manage a Cryptocurrency mining colocation and mining facility that is client-focused and dedicated to creating a new standard in the Blockchain space based on security and transparency. GDET has also developed a strong relationship with suppliers overseas to ensure future purchasing.

According to a recent communication from management, “GDET has widely developed from its humble beginnings as a cryptocurrency mining company into a transactional-based blockchain enterprise. The company now has footprints in both the “white-label” credit/debit card market, through its acquisition of DreamCard, as well as the rapidly growing Cryptocurrency ATM market with its latest purchase of a state-of-the art Satoshi 2 Cryptocurrency ATM machine.”

In other words, this is a diversified crypto and blockchain play with a number of core strategies in play.

The GDET chart is extremely interesting right now. Shares of the stock just jumped back above the key 50-day moving average on expanding volume over the past 6 weeks, during which time, the stock has powered 150% higher.

So, we are seeing expanding volume and higher prices including a breakout back above the trend moving average. In addition, MACD is in full momentum mode right now, with the fast line and the histogram above the midline. OTC markets also reports the float as quite small, so a continued breakout is possible.


Overstock.com Inc (NASDAQ:OSTK) operates as an online retailer in the United States. However, aside from its retail operations, the company has developed a significant blockchain and cryptocurrency segment.

On the retail side, it operates in two segments, Direct and Partner. On the blockchain side, its wholly-owned subsidiary is an interesting player, as we will discuss below.

Shares have been basing along support around the $15/share level. Recent action looks promising as shares push up into a possible test of the key $30 level.

The company offers home and garden products, including furniture, home decor, garden and patio, kitchen and dining, bedding, home improvement, housewares, and other related products; jewelry and watches; clothing and accessories; electronics and computers; artisan-crafted products; and other products.

However, Medici Ventures, a wholly owned subsidiary of Overstock.com, Inc., is more fundamental to our discussion here. The company created to leverage blockchain technology to solve real-world problems with transparent, efficient and secure solutions.

Medici Ventures has a growing portfolio of groundbreaking blockchain-focused investments. The company’s majority-owned financial technology company, tZERO, executed the world’s first blockchain-based stock offering in December 2016.

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