Nakamoto shares fall 6% premarket after Q3 revenue turns negative
A $5.8 million loss on Bitcoin options pushed operating revenue below zero, and higher Bitcoin prices lifted net income to $85.5 million.
Shares in Nasdaq-listed Bitcoin treasury company Nakamoto fell 6.5% in premarket trading on Friday after the company reported that losses on Bitcoin options pushed third-quarter operating revenue below zero.
Nakamoto’s shares traded at $5.40 at 12:02 pm UTC on Friday, according to Yahoo Finance. At that price, the stock was down about 62% year to date.
Nakamoto reported its third-quarter results after the market closed on Thursday. The company generated $3.9 million in revenue from its businesses. A $5.8 million net loss on Bitcoin options brought total operating revenue to negative $1.9 million, according to its quarterly filing.
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