American Bitcoin gains; BTIG initiates coverage with 'buy'
16/09/2026 13:19
BUZZ-American Bitcoin gains; BTIG initiates coverage with 'buy' ** Shares of American Bitcoin ABTC.O gain 2.6% to $8.20 in premarket trading
** BTIG initiates coverage on stock with "buy" rating, says co's low-cost bitcoin mining model "should make it an attractive way to invest in BTC"
** Expects ABTC to "outgrow many of its competitors in terms of its BTC stack" on the back of its "crypto mining operations and continued strategic BTC acquisitions"
** Also sets a price target of $15
** In August, company reported a bigger Q2 net loss on price decline
** Up to last day's close, shares down 68.7% this year
(Reporting by Sudeshna Ghoshal in Bengaluru)