What's Going On With Marathon Digital Stock Tuesday?
Portfolio Pulse from Dylan Berman
Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares are trading lower ahead of its quarterly earnings release on Thursday. Analysts estimate a loss of 14 cents per share and revenue of $157.84 million for the 2024 fiscal year second quarter. The stock initially traded higher on Monday but reversed after comments from former President Donald Trump regarding a national crypto stockpile. Marathon recently announced a $100 million Bitcoin purchase and a full HODL strategy.
July 30, 2024 | 5:47 pm
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Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares are trading lower ahead of its quarterly earnings release. Analysts estimate a loss of 14 cents per share and revenue of $157.84 million for the 2024 fiscal year second quarter. The stock initially traded higher on Monday but reversed after comments from former President Donald Trump regarding a national crypto stockpile. Marathon recently announced a $100 million Bitcoin purchase and a full HODL strategy.
The anticipation of a quarterly earnings report with an expected loss and the recent volatility due to external comments have contributed to the stock's decline. The $100 million Bitcoin purchase and HODL strategy may provide long-term value but have not offset short-term concerns.
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