Bluesky is having a moment. No, not that Bluesky, the other one. The Canadian crypto company Bluesky Digital Assets Corp has seen its stock take off, in a manner of speaking, over the past week as investors buy up what they almost certainly think are shares of the other Bluesky, the social media platform that has been scooping up X-iles and recently hit 20 million users .
First spotted by Bloomberg , Bluesky Digital Assets Corp’s stock value has increased eightfold since the beginning of November. On November 1, it was trading at 5 cents a share. As of Wednesday, it was going for 41 cents a share, having come down from a peak of 49 cents last week.
Given that it’s a penny stock, it’s unlikely anyone is getting rich off the misunderstanding, unless some intrepid meme stock junkies made a big bet that their fellow investors wouldn’t do an iota of homework. What exactly does Bluesky Digital Assets Corp do? Vague crypto things. It offers a “complete ecosystem of value creation” with a nice helping of “advanced development of proprietary based technology inclusive of advanced Artificial Intelligence (“AI”) based methods for the creation of cutting edge intelligent solutions.
” Bloomberg reported that Bluesky Digital Assets Corp released a press release stating that it “wishes to confirm that the Corporation’s management is unaware of any material change in the Corporation’s operations that would account for the recent increase in market activity.” That p.