What's Going On With Bitcoin Mining Stocks Tuesday?
Portfolio Pulse from Adam Eckert
Bitcoin mining stocks Marathon Digital Holdings Inc (MARA), Riot Platforms Inc (RIOT), and CleanSpark Inc (CLSK) are trading lower amid a pullback in bitcoin, which has been trending higher since late 2023. The pullback is attributed to a change in investor sentiment and the largest single-day outflow ever recorded in Bitcoin ETFs. The market is looking ahead to April's halving event as the next potential catalyst.
March 19, 2024 | 1:24 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
CleanSpark Inc shares are trading lower by 4.75% at $16.63, in line with the bitcoin market downturn.
The drop in CLSK's stock price reflects the broader bitcoin market's pullback, with investor sentiment and ETF outflows playing significant roles.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Marathon Digital Holdings Inc is trading lower by 5.72% at $18.30 amid a bitcoin pullback.
The decline in MARA's stock price is directly related to the broader pullback in bitcoin prices, influenced by changing investor sentiment and significant ETF outflows.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Riot Platforms Inc shares are down 4.46% at $10.92 amid a broader bitcoin market pullback.
RIOT's stock price decrease is closely tied to the downturn in bitcoin, driven by a shift in investor sentiment and record ETF outflows.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90