What's Going On With Bitcoin Miners Riot Platforms and Marathon Digital Stocks?
Portfolio Pulse from Erica Kollmann
Shares of Riot Platforms, Inc. (RIOT) and Marathon Digital Holdings, Inc. (MARA) are rising due to the ongoing Bitcoin (BTC) rally and anticipation of Blackrock's spot Bitcoin ETF approval. JP Morgan upgraded RIOT to Neutral, and Roth MKM raised RIOT's price target. MARA reported producing 1,187 bitcoins and RIOT produced 552 bitcoins in November. Both stocks are up over 5%.
December 08, 2023 | 6:02 pm
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POSITIVE IMPACT
Marathon Digital's stock is benefiting from the Bitcoin price increase and the company's strong Bitcoin production report for November.
The correlation between Bitcoin's price and MARA's stock, along with the impressive production update, is likely to positively influence MARA's short-term stock performance.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Riot Platforms is experiencing a stock price increase due to the Bitcoin rally, an analyst upgrade from JP Morgan, and a raised price target from Roth MKM.
The positive sentiment around Bitcoin and the favorable analyst actions are likely to boost investor confidence in RIOT, leading to a short-term price increase.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90