Bitfarms, TeraWulf And Other Big Stocks Moving Lower In Friday's Pre-Market Session
Portfolio Pulse from Avi Kapoor
Several major stocks, including Bitfarms, TeraWulf, and Applied Digital, are experiencing significant declines in Friday's pre-market session. The declines are largely attributed to a drop in Bitcoin prices and company-specific updates.
July 05, 2024 | 3:01 pm
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NEGATIVE IMPACT
Applied Digital shares dipped 11.4% to $6.00 in pre-market trading after a recent gain and an analyst's price target increase.
Despite a recent gain and a positive analyst rating, Applied Digital's shares fell, possibly due to profit-taking or broader market trends.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Bitfarms shares fell 7.6% to $2.32 in pre-market trading due to a 4% drop in Bitcoin prices.
Bitfarms' stock price is closely tied to Bitcoin prices. The 4% drop in Bitcoin has led to a significant decline in Bitfarms' shares.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Bitdeer Technologies shares declined 10.2% to $10.62 in pre-market trading amid a decline in Bitcoin prices.
Bitdeer's stock is likely affected by the 4% drop in Bitcoin prices, leading to a significant decline in its shares.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
NEGATIVE IMPACT
HDFC Bank shares fell 5.5% to $62.95 in pre-market trading.
The decline in HDFC Bank's shares may be due to broader market trends or company-specific factors not detailed in the article.
CONFIDENCE 65
IMPORTANCE 55
RELEVANCE 55
NEGATIVE IMPACT
Hut 8 shares fell 8.8% to $14.73 in pre-market trading after the company's June operations update.
The operations update may have contained unfavorable information, leading to a decline in Hut 8's stock price.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 70
NEGATIVE IMPACT
Iris Energy shares fell 10.9% to $12.78 in pre-market trading amid weakness in Bitcoin and a recent funding announcement.
The decline in Bitcoin prices and the recent funding announcement may have led to investor concerns, causing a drop in Iris Energy's stock.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Marathon Digital shares declined 6% to $19.73 in pre-market trading amid weakness in Bitcoin.
Marathon Digital's stock is closely tied to Bitcoin prices. The 4% drop in Bitcoin has led to a decline in Marathon Digital's shares.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 70
NEGATIVE IMPACT
MicroStrategy shares fell 5.9% to $1,225.01 in pre-market trading.
The decline in MicroStrategy's shares may be due to broader market trends or company-specific factors not detailed in the article.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
B. Riley Financial shares declined 8.1% to $15.60 in pre-market trading.
The decline in B. Riley Financial's shares may be due to broader market trends or company-specific factors not detailed in the article.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
SunPower shares fell 7.1% to $2.49 in pre-market trading.
The decline in SunPower's shares may be due to broader market trends or company-specific factors not detailed in the article.
CONFIDENCE 65
IMPORTANCE 55
RELEVANCE 55
NEGATIVE IMPACT
TeraWulf shares tumbled 12.6% to $4.55 in pre-market trading after reporting an unaudited monthly production and operations update for June.
The production and operations update likely contained unfavorable information, leading to a significant drop in TeraWulf's stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85