Shares of crypto-related stocks are trading lower after recently gaining amid strength in Bitcoin.
Portfolio Pulse from Benzinga Newsdesk
Crypto-related stocks HIVE, MARA, MSTR, and RIOT are trading lower following recent gains that were aligned with Bitcoin's strength.
December 29, 2023 | 4:48 pm
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NEGATIVE IMPACT
HIVE Blockchain Technologies Ltd. shares are trading lower in correlation with the recent downturn in Bitcoin prices.
HIVE's stock price is closely tied to cryptocurrency market trends, particularly Bitcoin's performance. A downturn in Bitcoin often leads to a decline in HIVE shares.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Marathon Digital Holdings, Inc. is experiencing a decline in its stock price following the recent Bitcoin pullback.
MARA, being a digital asset technology company, often sees its stock price move in tandem with Bitcoin's price movements. The current decline in Bitcoin is negatively affecting MARA's stock.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
MicroStrategy Incorporated's shares are down, reflecting the recent decrease in Bitcoin value, which the company holds significantly.
MicroStrategy's significant Bitcoin holdings make its stock price particularly sensitive to changes in Bitcoin's price. The current downturn in Bitcoin is leading to a decrease in MSTR's stock price.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Riot Blockchain, Inc.'s stock is trading lower in line with the recent downtrend in Bitcoin prices.
RIOT, a Bitcoin mining company, is directly impacted by the price of Bitcoin. The recent decline in Bitcoin has led to a corresponding decline in RIOT's stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80