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 May 2, 2024, NCTY stock price climbed to $7.98 with 75,001 million shares trading.

NCTY has a beta of 1.33, 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 $44.56 million. This is considered a Sub-Micro Cap stock.

In the last 3 years, NCTY stock traded as high as $235.50 and as low as $3.33.

NCTY stock has underperformed the market in the last year with a return of -12.2%, while SPY returned +24.6%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in NCTY shares. However, NCTY has outperformed the market in the last 3 month and 2 week periods, returning +41.2% and +33.0%, while SPY returned +2.5% and +1.1%, respectively. This indicates NCTY has been having a stronger performance recently.

NCTY support price is $6.72 and resistance is $7.84 (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.