NCTY Stock Summary and Trading Ideas (The9 Limited - American Depository Shares | NASDAQ:NCTY)

The9 Ltd operates a cryptocurrency mining business. It provides computing power, or hash rate, to a Bitcoin mining pool and is entitled to receive a fractional share of Bitcoin award from the Bitcoin mining pool in return. The company generates its revenues from customers in Greater China and other areas.

The9 Limited - American Depository Shares trades on the NASDAQ stock market under the symbol NCTY.

As of April 19, 2024, NCTY stock price climbed to $6.08 with 19,342 million shares trading.

NCTY has a beta of 1.51, meaning it tends to be more sensitive to market movements. NCTY has a correlation of 0.02 to the broad based SPY ETF.

NCTY has a market cap of $33.95 million. This is considered a Sub-Micro Cap stock.

In the last 3 years, NCTY stock traded as high as $263.00 and as low as $3.33.

NCTY has underperformed the market in the last year with a price return of -42.1% while the SPY ETF gained +21.2%. However, in the short term, NCTY had mixed performance relative to the market. It has outperformed in the last 3 months, returning +50.9% vs +4.3% return in SPY. But in the last 2 weeks, NCTY shares have been beat by the market, returning -3.9% compared to an SPY return of -3.5%.

NCTY support price is $5.54 and resistance is $6.46 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that NCTY stock will trade within this expected range on the day.