Shares of crypto-linked stocks are trading lower amid a drop in the price of Bitcoin.
Portfolio Pulse from Benzinga Newsdesk
Shares of crypto-linked stocks are trading lower amid a drop in the price of Bitcoin.
July 17, 2024 | 5:09 pm
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NEGATIVE IMPACT
Coinbase shares are trading lower due to a drop in Bitcoin prices.
Coinbase's business is closely tied to the performance of Bitcoin and other cryptocurrencies. A drop in Bitcoin prices typically leads to lower trading volumes and revenues for Coinbase.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Marathon Digital Holdings shares are trading lower due to a drop in Bitcoin prices.
Marathon Digital Holdings is a major Bitcoin mining company. A drop in Bitcoin prices directly impacts its profitability and stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Riot Blockchain shares are trading lower due to a drop in Bitcoin prices.
Riot Blockchain is heavily involved in Bitcoin mining. A decrease in Bitcoin prices negatively affects its revenue and stock performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100