Latest news with #T-REX
Yahoo
11-06-2025
- Business
- Yahoo
Circle's impressive IPO debut fuels ETF mania on Wall Street
Circle's impressive IPO debut fuels ETF mania on Wall Street originally appeared on TheStreet. Three issuers have rushed to file for exchange-traded funds (ETFs) tied to the Circle Internet Group (NYSE: CRCL) barely within a week of the crypto firm making its spectacular debut on the New York Stock Exchange (NYSE). The ProShares Ultra CRCL ETF offers investors twice leveraged exposure to the daily performance of the CRCL stock. It means the ETF should gain approximately two times as much as CRCL gains when the stock rises on a given day. The Bitwise CRCL Option Income Strategy ETF leverages a covered call strategy. It means an investor can keep selling call options against the CRCL shares being held. The T-REX 2x Long CRCL Daily Target ETF, similar to the ProShares fund, aims to offer twice leveraged exposure to the CRCL stock's performance. While ProShares and Bitwise submitted their filings on June 6, T-Rex submitted it on June 10. The ETF filings are counting on the impressive performance of the newly debuted CRCL stock, in addition to the success of crypto ETFs — in particular, Bitcoin ETFs launched back in January 2024. Circle's CRCL stock debuted on the NYSE on June 5 when it opened at $69, more than 124% higher than the IPO price of $31. The CRCL stock hit a record high of $138.57 on 9 June as the news of ETF filings flew in. However, the stock closed at $107.10 on 10 June, a 7% drop in a day. Circle is the company behind USDC, a stablecoin that is a type of cryptocurrency that is created to maintain a stable value, unlike traditionally volatile cryptocurrencies such as Bitcoin. As per DeFiLlama, the stablecoin market is worth $250 billion, and USDC — the second-largest stablecoin — accounts for nearly 25% market share. Circle's impressive IPO debut fuels ETF mania on Wall Street first appeared on TheStreet on Jun 10, 2025 This story was originally reported by TheStreet on Jun 10, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
12-05-2025
- Business
- Associated Press
T-REX Acquisition Corp. Announces Uplisting to OTCQB Venture Market Trading
Plantation, Fla., May 12, 2025 (GLOBE NEWSWIRE) -- T-REX Acquisition Corp. (OTCQB: TRXA), a growth stage, multi-tiered, vertically integrated crypto-mining business, is pleased to announce that the OTC Markets Group has approved the quotation of its common stock shares on the OTCQB ('OTCQB'). The Company's common shares began trading on OTCQB Venture Market under the symbol 'TRXA' as of the opening of the market on May 12, 2025. Uplisting to the OTCQB will potentially provide T-REX with greater liquidity and a more seamless trading experience for shareholders. Frank Horkey, T-REX Acquisition Corp.'s President said: 'While T-REX Acquisition Corp. has been trading on the OTC Pink Sheets the last few years, this uplisting to the higher-standard OTCQB Venture Market is an important milestone for our Company and its Shareholders. We believe this will enhance the visibility and transparency of T-REX within the investment community, improve our access to institutional capital, and create a more efficient market for investors. Coupled with our recent acquisitions, new business verticals, and management additions, I believe T-REX has uniquely positioned itself to capitalize on the ever-growing crypto mining market.' T-REX Acquisition Corp. (OTCQB: TRXA) trades on the OTCQB Venture Market for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS The information contained in this publication does not constitute an offer to sell or solicit an offer to buy securities of T-Rex Acquisition Corp. (the 'Company'). This publication contains forward-looking statements, which are not guarantees of future performance and may involve subjective judgment and analysis. The information provided herein is believed to be accurate and reliable, however the Company makes no representations or warranties, expressed or implied, as to its accuracy or completeness. The Company has no obligation to provide the recipient with additional updated information. No information in this publication should be interpreted as any indication whatsoever of the Company's future revenues, results of operations, or stock price. Contact Information [email protected] 954 960 7100
Yahoo
24-04-2025
- Business
- Yahoo
Now You Can Easily Double Your GameStop Stock Gains—or Losses
The T-REX 2x Long GME Daily Target ETF, which uses derivatives contracts to double the daily performance of GameStop stock, began trading on Thursday. GameStop shares are widely known for their volatility, with the stock regularly popping and tumbling amid online speculation fueled by meme stock traders. Investors have piled into leveraged funds amid this year's volatility, with inflows surging after President Trump's "Liberation Day" tariff announcement tanked GameStop (GME) stock isn't volatile enough for you, starting today you have a way to crank it up even higher. The T-REX 2x Long GME Daily Target ETF (GMEU) began trading on Thursday alongside a similar fund tracking shares of cloud computing data provider Snowflake (SNOW). The funds use derivatives contracts to double the daily performance of their underlying stocks. GameStop shares were up less than 1% in recent trading, while Snowflake rose about 7%. GameStop stock is known for its extreme volatility. It was at the center of 2021's meme stock craze, and has remained a favorite among supremely online traders. Shares soared nearly 50% in a day last June when retail trading influencer Keith 'Roaring Kitty' Gill scheduled his first livestream in nearly three years. Several cryptic social media posts from Gill boosted the stock on multiple occasions in December. Experts warn that leveraged ETFs amplify the risk inherent in all equity trading, and funds tracking unpredictable stocks like GameStop come with extraordinary risk. "An investor could lose the full principal value of his/her investment within a single day if the price of GME falls by more than 50% in one trading day," the fund materials note. The fund's provider, REX Shares, also warns that its GameStop fund, which is meant to double the stock's daily performance, is not right for buy-and-hold investors. "For periods longer than a single day, the Fund will lose money if GME's performance is flat," according to the fund materials, "and it is possible that the Fund will lose money even if GME's performance increases over a period longer than a single day." REX Shares manages 20 leveraged ETFs—15 long and five short. The firm's leveraged offerings started with retail investor favorites Tesla (TSLA) and Nvidia (NVDA) in October 2023 before expanding to other big tech names like (AAPL) and Microsoft (MSFT), and eventually cryptocurrencies Bitcoin (BTCUSD) and Ether (ETHUSD). REX began experimenting with meme-stock funds when it launched a leveraged Trump Media & Technology (DJT) fund in early March. That fund's assets under management stood at a modest $2.4 million as of Wednesday's close. Investors, seeking to recoup losses or turbocharge their buy-the-dip gains, have piled into leveraged funds amid this year's market volatility. In the days after President Trump rattled stock markets with his "Liberation Day" tariffs, the top four most popular ETFs in the country were all leveraged funds, according to Bloomberg. Read the original article on Investopedia Sign in to access your portfolio
Yahoo
28-02-2025
- Business
- Yahoo
Strategy Is Down 50% From Its Highs. What Does It Mean for Its $43B Bitcoin Holdings?
Disclaimer: The analyst who wrote this piece owns shares of Strategy (MSTR). Bitcoin's sharp price declines have dominated news headlines this week, but major corporate BTC holder Strategy (MSTR) has been in a downtrend for more than three months. Trading around the $250 level on Wednesday, Strategy is lower by about 55% since peaking at $543 on Nov. 21. Investors in leveraged MSTR products have suffered even greater losses. The Defiance Daily Target 2x Long MSTR ETF (MSTX) has plunged 90%, while the T-REX ETF (MSTU) has declined 85%. Despite the decline in bitcoin, Strategy's BTC acquisition remains profitable. Since initiating purchases in August 2020, the company is up 32% on its holdings, with an average cost basis of $66,300 per BTC and an unrealized profit of $10.65 billion at bitcoin's current price of about $87,000. A closer look at Strategy's convertible debt highlights potential 'liquidation prices' or forced bitcoin sales. Notably, all of the company's 499,096 BTC remain unencumbered, meaning Strategy has not pledged any bitcoin as collateral. An earlier convertible note using bitcoin as collateral with Silvergate Bank was fully repaid. According to Bitcoin Overflow on X, Strategy has $8.2 billion in total outstanding debt, backed by 499,096 BTC, currently valued at $43.4 billion. The short answer: As long as the value of Strategy's bitcoin exceeds its debt levels, the company would not need to sell any of its BTC holdings. In other words, bitcoin would have to decline all the way to approximately $16,500, or roughly another 80% from current levels. Taking a more detailed look, two of the six outstanding convertible bonds—the 2029 and 2030 issues—are below their offering price. They're large bonds, though, accounting for $5 billion out of the $8.2 billion total. Even then, the debt does not mature until 2029, allowing time for recovery. And in theory, Strategy could roll over more paper, if that were to happen. If the value of the company's bitcoin were to drop below debt levels at the time the convertible bonds matured, and the MSTR stock price was below the conversion price (which would be very likely in that scenario), Strategy — in order to prevent massive dilution in its stock — would likely decide to sell bitcoin to repay the bonds in cash rather than converting them into equity. Read more: In Defense of the 'MicroStrategy Premium'
