Scroll to Top

Technical Support and Rising Participation Fuel Recent Trade in Atlas Cloud Enterprises Inc (OTCMKTS:ATLEF)

Posted in Business11 months ago • Written by Ash KNo Comments

Atlas Cloud Enterprises Inc (OTCMKTS:ATLEF) shares have been moving sideways in a trading range while repeatedly and successfully testing key support around the $0.40 per share mark in recent action. The stock recently broke above its key 50-day simple moving average as volume, on an average basis per trading session, continues to swell.

The company is an emerging pure play stock in the cryptocurrency colocation mining space, which is essentially a mining pick and shovel market for the rapidly growing cryptocurrency mining sector. A recent report by Coherent Market Insights forecasts that the cryptocurrency mining space is set to grow by roughly 30% on a compound annual growth rate basis, swelling to as much as $38 billion in total market size by the year 2025.

Atlas Cloud Enterprises Inc (OTCMKTS: ATLEF) offers tailored Colocation and flexible Cloud Computing options for small and medium businesses in Western Canada.

Basically, the company provides colocation, back-up/redundancy IT, telecom equipment, and cloud computing services to small and medium-size businesses in Western Canada. The company offers committed space to startup technology companies, such as providing desks, chairs, high-speed Internet, meeting rooms, relevant workshops, and other office infrastructure required by such companies to grow and compete in the technology sector.

Atlas Cloud Enterprises Inc. is headquartered in Vancouver, Canada.

According to company materials, Atlas Cloud Enterprises Inc. is a growth-oriented, CSE-listed company focusing on the business of providing co-location and backup/redundancy IT, telecom equipment and cloud computing. Atlas Cloud will provide customers with secure power access, cooling and bandwidth to ensure co-located, back-up or Cloud systems offer minimum risk of failure. Furthermore, Atlas is focused on the blockchain sector and digital currency mining. Atlas Cloud aims to become the lowest-cost producer of digital currency mining and blockchain infrastructure.

Atlas Cloud owns a facility currently undergoing preparations for use as a digital currency mining operation located in Electric City, WA. This location currently benefits from a dedicated low-cost energy source of 3.0 MW and the Company is seeking to significantly expand its operations with the development of additional facilities offering economical, high-yield energy infrastructure opportunities.

On the financial side, ATLEF has about $1.9M in cash on the books, which stands against about $124K in total current liabilities. The company has pulled in about $365k in trailing twelve-month revenues, with growth on the top-line on a quarterly year/year basis running along at a healthy 35% clip. The market now values the stock at a market cap of $12.1M.

As noted above, shares of the stock have been pushing sideways but finding key support at a key level, and seeing rising interest as evidenced by gradually growing liquidity on the tape. With interest in the cryptocurrency mining space set to grow overcoming periods, investors and traders may benefit from taking a closer look at the stock.

 

TAGS: , , ,
WordPress Author Box

Ash has been in the media business for over seven years both behind and in front of the mic and camera. After years of experience both at Wallstreet and Bombay Stock Exchange he has finally embraced the web with UsTradeMedia.com as a district manager and producer.

Leave A Response