On August 19, Keel Infrastructure Corp declined 8.22% in regular trading, trading at $3.465 per share with turnover of $111 million, nearly erasing the prior session's gains.
The sell-off was driven by continued pressure from the company's Q2 results, which significantly missed expectations. Q2 revenue came in at $30.4 million, down 50% year-over-year from $60.9 million, while EPS of negative $0.11 missed the consensus estimate of negative $0.06 by over 83%. Meanwhile, the latest 13F filings revealed institutional investors broadly trimmed AI infrastructure-related holdings during Q2, with sellers outweighing buyers, signaling diminished tolerance for companies in transition phases.
Although Director Gagnon Benjamin purchased 58,900 shares at an average price of $3.33 on August 13, the fundamental headwinds overwhelmed any sentiment support. The company, which redomiciled from Canada and rebranded from Bitfarms, has fully exited Bitcoin mining and is redirecting capital toward AI data center development, but the transition-period revenue gap continues to weigh on valuation.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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