Capital B Shares Bounce Back 5.73% After Fundraising with Adam Back
Capital B's stock regains momentum early in the week, trading at €0.63 mid-session after a successful fundraising with Adam Back. The rebound occurs amidst a 1.1% decline in the CAC 40, while Bitcoin Treasury Company remains heavily in deficit over the year.
A Fundraising that Realigns Bitcoin Strategy
Capital B announced a fundraising of 1.1 million euros through the issuance of share subscription warrants, coupled with a revision of the convertible bond terms held by strategic investor Adam Back. This operation is a direct continuation of the group's recent bitcoin accumulations. By the end of April, the company had increased its reserve to 2,943 bitcoins, following a capital increase at €0.65 per share. The average acquisition cost is €91,924 per BTC. In mid-April, the stock also became actively listed on the American OTC market under the ticker CPTLF, following FINRA's approval. This series of capital transactions has mechanically weighed on the stock, which has lost 42.28% over the year and 11.13% over three months, despite today's rebound.
A Technical Rebound Below Moving Averages
At €0.63, the price is moving in the lower part of the Bollinger Bands (lower bound at €0.54, upper bound at €0.87). The RSI at 36 is gradually exiting the low zone, consistent with the rebound observed in the session after a week of decline by 5.82%. The stock remains significantly below its moving averages: the MM50 is at €0.72 (about 14% above the current price) and the MM200 at €2.03, reflecting the extent of the decline over the past year. The technical support at €0.57 was preserved during the last sessions. In a CAC 40 that lost 1.1% to 8,025.4 points, Capital B gained 5.73%. The resistance to watch if the movement continues is identified at €0.82, still far from the current price.
