Bit Digital, Cipher Mining And Other Big Stocks Moving Higher In Thursday's Pre-Market Session
Portfolio Pulse from Avi Kapoor
In Thursday's pre-market session, several stocks are moving higher despite mixed U.S. stock futures, with the Dow Jones futures down about 40 points. Altice USA, Inc. (ATUS) saw a significant rise of 14.4% after a 12% gain on Wednesday. TeraWulf Inc. (WULF) continued its upward trend with a 10.8% increase following a 30% gain. Nurix Therapeutics, Inc. (NRIX), HIVE Digital Technologies Ltd. (HIVE), and Bit Digital, Inc. (BTBT) all saw pre-market gains, with BTBT rising due to an expansion of its Bitcoin mining fleet and a surge in Bitcoin's price. Cipher Mining Inc. (CIFR) also benefited from the Bitcoin price increase, rising 6.3%. Bilibili Inc. (BILI), Bitdeer Technologies Group (BTDR), and Maxeon Solar Technologies, Ltd. (MAXN) each saw pre-market gains of around 4.9%.
December 28, 2023 | 10:41 am
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POSITIVE IMPACT
Altice USA, Inc. rose 14.4% in pre-market trading after a 12% gain on Wednesday.
The continued rise in pre-market trading after significant gains the previous day suggests strong investor interest and positive sentiment, which could lead to a short-term price increase.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Bilibili Inc. gained 4.9% to $11.66 in pre-market trading.
The pre-market gain indicates positive investor sentiment, potentially leading to a short-term increase in stock price.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Bit Digital, Inc. shares gained 7.2% in pre-market trading amid strength in the price of Bitcoin and news of doubling its Bitcoin mining fleet.
The increase in Bitcoin's price and the expansion of Bit Digital's mining operations are significant positive catalysts that are likely to drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 95
POSITIVE IMPACT
Bitdeer Technologies Group shares rose 4.9% in pre-market trading amid an increase in the price of Bitcoin.
The correlation with Bitcoin's price suggests that the positive sentiment around Bitcoin is spilling over to Bitdeer Technologies, likely leading to a short-term price increase.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Cipher Mining Inc. shares rose 6.3% in pre-market trading as the price of Bitcoin continues to climb.
The positive movement in Bitcoin's price is directly beneficial for Cipher Mining's business, suggesting a likely increase in the stock's short-term price.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
HIVE Digital Technologies Ltd. shares rose 7.3% in pre-market trading after a 12% gain on Wednesday.
The continuation of gains from the previous day indicates a strong bullish trend that could positively impact the stock's short-term price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Maxeon Solar Technologies, Ltd. shares gained 4.9% in pre-market trading.
The pre-market gain suggests a positive outlook for the stock, which may result in a short-term price increase.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Nurix Therapeutics, Inc. shares climbed 7.7% in pre-market trading.
The pre-market gain suggests positive investor sentiment, which may lead to a short-term increase in stock price.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
TeraWulf Inc. shares gained 10.8% in pre-market trading following a 30% increase on Wednesday.
The stock's upward momentum from the previous day's 30% gain is likely to continue into the short term, indicating a positive impact on its price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 85