Hut 8 shares are trading higher after it was announced the stock will join the Russell 3000. Additionally, Canaccord Genuity raised its price target on the stock from $14 to $22.
Portfolio Pulse from Benzinga Newsdesk
Hut 8 shares are trading higher following the announcement that the stock will join the Russell 3000. Canaccord Genuity also raised its price target on the stock from $14 to $22.
June 27, 2024 | 1:18 pm
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Hut 8 shares are trading higher after the announcement that the stock will join the Russell 3000 and Canaccord Genuity raised its price target from $14 to $22.
The inclusion in the Russell 3000 index is likely to increase demand for Hut 8 shares as index funds and ETFs that track the index will need to purchase the stock. Additionally, the raised price target from Canaccord Genuity signals positive analyst sentiment, further boosting investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100