Why Are Marathon Digital Shares Surging Today?
Portfolio Pulse from Vaishali Prayag
Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares are surging due to a significant rise in Bitcoin prices to $66,000. Trading volume is robust, and the stock is trading above its 50-day moving average. Marathon is set to release its Q2 earnings on August 1, 2024, with analysts expecting a loss per share of 14 cents and revenue of $157.84 million.
July 19, 2024 | 7:14 pm
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Marathon Digital Holdings shares are up due to a significant rise in Bitcoin prices. The stock is trading above its 50-day moving average, and trading volume is robust. Upcoming Q2 earnings report on August 1, 2024, is expected to show a loss per share of 14 cents and revenue of $157.84 million.
The surge in Bitcoin prices directly impacts Marathon Digital Holdings positively, as the company is closely linked to the cryptocurrency market. The robust trading volume and the stock trading above its 50-day moving average indicate strong investor interest. The upcoming earnings report could further influence the stock price.
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