Bitdeer ($BTDR) Lock-Up Expiry Sparks Concerns Over Potential Undervaluation 💡

In the past month, Bitcoin-mining company Bitdeer Technologies stock has plummeted approximately 70%, taking the stock from a price of $9.84 a share to a low (as of this writing) of $3.03 a share.

Advocates of the company argue that the price drop is not due to fundamental reasons but rather due to the end of the stock’s lock-up period. Following a company's initial public offering, some of its shares may undergo a ‘lock-up period,’ during which investors are restrained from selling shares for a set period of time.

According to SEC filings, approximately 95% of Bitdeer’s shares had been subject to a lock-up agreement and were unable to trade on the open market.