What's Going On With Riot Platforms And Marathon Digital Holdings Stock?
Portfolio Pulse from Erica Kollmann
Shares of Riot Platforms, Inc. (NASDAQ:RIOT) and Marathon Digital Holdings, Inc. (NASDAQ:MARA) are trading higher as the price of Bitcoin has increased by nearly 8% over the last five days. Both companies have significant short interest, with 29.44% of MARA shares and 17.47% of RIOT shares being sold short. Both stocks are also trending among retail investors on Yahoo! Finance.
October 02, 2023 | 2:20 pm
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POSITIVE IMPACT
Marathon Digital Holdings' stock is trading higher due to the rise in Bitcoin's price. The company has an outsized short interest of 29.44%.
Marathon Digital Holdings' stock price is directly influenced by the price of Bitcoin due to the company's involvement in Bitcoin-related activities. The outsized short interest indicates a potential for a short squeeze, which could further drive the stock price up.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Riot Platforms' stock is trading higher due to the rise in Bitcoin's price. The company has a significant short interest of 17.47%.
Riot Platforms' stock price is directly influenced by the price of Bitcoin due to the company's involvement in Bitcoin-related activities. The significant short interest indicates a potential for a short squeeze, which could further drive the stock price up.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100