Shares of crypto-related stocks are trading lower amid a drop in Bitcoin.
Portfolio Pulse from Benzinga Newsdesk
Crypto-related stocks including COIN, HUT, MARA, MSTR, and RIOT are trading lower due to a decline in Bitcoin's value.
April 02, 2024 | 11:05 am
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NEGATIVE IMPACT
COIN's stock is trading lower following a decrease in Bitcoin's value.
As a platform for trading cryptocurrencies, COIN's financial performance is closely tied to the health of the crypto market, particularly Bitcoin.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
HUT's stock is trading lower due to a drop in Bitcoin's value.
HUT, being involved in cryptocurrency mining, is directly affected by the price movements of Bitcoin, leading to a decrease in its stock value.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
MARA's stock is trading lower as Bitcoin's value declines.
MARA, a cryptocurrency mining company, sees its stock price closely correlated with Bitcoin's market performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
MSTR's stock is trading lower in response to a decrease in Bitcoin's value.
MSTR's significant investment in Bitcoin makes its stock price sensitive to changes in the cryptocurrency's value.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
RIOT's stock is trading lower following a decline in Bitcoin's value.
As a company that mines Bitcoin, RIOT's stock performance is directly impacted by the price fluctuations of Bitcoin.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80