By admin
Can investing in Zion Oil & Gas stock outperform Bitcoin in 2023?
I considered this because on the one hand you could argue that bitcoin is way overpriced and could crash again and by a lot more even though it seems to be recovering.
Whereas Zion Oil & Gas has seen nice highs in its past and is more or less sitting at rock bottom just above 10 cents.
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It’s not uncommon for penny stocks like Zion Oil & Gas (ZNOG) to suddenly skyrocket to the moon for no apparent reason. Of course there are always factors behind any such moves, but not always material proper.
We’ve seen the Zion stock rocket from 20 cents to $1.60 plus only to give back all those gains overt the months and to then fall further again. But the Zion stock price is half of where it was pre take off to those highs last seen.
Bitcoin is in a similar position if not worse being over 50% down on it’s all time highs. Though in the past when the Zion ticker was ZN rather than ZNOG as it is now on the OTC market, it was much higher.
The thing is with stocks and penny stocks moreover they get diluted, more shares are added and as such without any prominent material news from the company about future discoveries which should lead to profits etc, the stock price is going to suffer.
Penny stock exploration oil companies like Zion Oil & Gas can hit the big time but for the most part they are non players, bottom draw long shot gambles.
Of course there are though pump and dump merchants that fester on the ups and downs of such like companies. Some clever traders swing both ways, buying stock on the way up, dumping and then shorting on the way down.
Bitcoin as a cryptocurrency is also subject to wild swings, but has not been fully mined and will or should always have a use, albeit as a gold like holding crypto asset.
What moves the price of Bitcoin is hype based on the feeling that crypto as a whole is a good thing that is needed in the world. It is then that the price of bitcoin and many other blockchain coins and tokens etc start to make big steady moves in a bullish direction.
Zion on the other hand, a company all about finding oil in Israel seems to be playing a strange game with investors. They need investors support and funds to continue exploration, however are making some strange decisions when it comes to drilling and testing.
First it was that they drilled so deep MJ01 and found oil but not much of it so it turned out, and the quality wasn’t any good. But it had taken them a while to report the bad news. By then investors who held throughout ended up losing out when the ZN share price tanked.
Then Zion Oil & Gas said they believe there is oil in the area, but that they needed to drill deeper. And so the new chapter began whereby Zion conducted 3D and bought a rig that could drill deeper.
They shipped the rig into Israel from Romania and hired an experienced crew to set up the rig and train Zion’s local crew how to drill holes.
Zion drilled deeper MJ02 on the same site and found nothing. Just like the results of the 3D – which was undertaken on most of Zion’s license – found nothing. The testing failed in that it informed Zion there wasn’t any oil or gas.
Zion Oil & Gas then told investors that they want to re-examine the higher levels since they believed that mistakes were made and or such zones where not fully explored.
You couldn’t make this up.
Whilst all this drama has been playing out over many months, Zion Oil & Gas increased the number of Board members.
So in essence, one could say that Zion has been stringing investors along in order to profit from the income they generate through placings and funding rounds. All based on false hope.
Zion Oil & Gas left the NASDAQ and listed on OTC because in my view they full well knew that there was no oil at the upper levels or zones, and that there was unlikely to be any oil at the deeper levels.
If you invest in bitcoin right now, and it reaches new highs, you could cash out having doubled your money or maybe more. If you invest in ZNOG stock, the best you can hope for is that for some reason and in some way the price is manipulated which could lead to a surge in its price.
But even if the stock price of ZNOG rose, how long will it stay up and is it worth gambling on Zion Oil & Gas over the king of the cryptos Bitcoin? Because at any moment Zion Oil & Gas could fold.
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