Investors in Net Savings Link (OTCMKTS:NSAV) have seen quite a bit of volatility of late. Fortunately for investors, much of this volatility in NSAV stock has been to the upside.
Net Savings Link has made headlines with the company’s announced move into the decentralized cryptocurrency exchange space. Earlier this month, Net Savings Link announced the move to the cheer of investors. This stock moved from “triple zero” status (less than a penny a share) to nearly $0.15 per share on the news earlier this month.
However, in the past few days, NSAV stock has been selling off. Currently, investors can nab shares of this speculative penny stock for around three cents. For those looking to gamble on the attractiveness of crypto exchanges, perhaps such a bet makes sense at these levels. After all, there appears to be plenty of room for competitors of Coinbase (NASDAQ:COIN) and other established platforms. Investors betting on the rise of crypto may be looking to hedge their bets. Accordingly, the hope is that NSAV stock can pick up some of the capital flows into this sector.
That said, there is a date investors need to keep in mind when it comes to this speculative play. Let’s dive into why investors will want to keep NSAV stock on watch for early October.
NSAV Stock Moving On Plans to Launch Crypto Exchange in Early October
Today, Net Savings Link announced its timeline for the company’s aforementioned move into the cryptocurrency exchange space. Via a press release, the company announced a timeline of 45 to 60 days to launch.
Given such a massive undertaking, this timeline appears to be rather aggressive. That said, as a cryptocurrency, blockchain and digital asset technology company, it appears investors are banking on the expertise behind the scenes to get this done. Shares are currently trading higher today, on an otherwise red day for tech stocks.
According to the press release, Net Savings Link will own 100% of the exchange, which will carry the NSAV brand name. This crypto exchange is seemingly well-positioned to capture market share in what has been touted as a “$2 trillion global cryptocurrency market.”
This move is still subject to legal, regulatory and licensing concerns. Accordingly, investors need to keep in mind that this timeline is an estimate right now. However, should Net Savings Link execute on its promised timeline, investors stand to potentially benefit from the volatility in this stock.
That said, as with such risky plays, volatility works in both directions. Investors ought to remember to prudently manage such high-risk positions accordingly.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.