MicroStrategy, Cipher Mining, TeraWulf And Other Big Stocks Moving Lower In Monday's Pre-Market Session
Portfolio Pulse from Avi Kapoor
Several major stocks, including MicroStrategy, Cipher Mining, and TeraWulf, are experiencing significant declines in Monday's pre-market session, driven by a sharp drop in Bitcoin prices and other market factors.
August 05, 2024 | 10:39 am
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NEGATIVE IMPACT
Applied Digital shares fell 12% to $3.73 in pre-market trading amid weakness in Bitcoin.
Applied Digital's stock is affected by Bitcoin prices due to its business model. A decline in Bitcoin prices directly impacts APLD's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Cipher Mining shares declined 15.4% to $3.66 in pre-market trading amid weakness in Bitcoin.
Cipher Mining's stock is affected by Bitcoin prices due to its business model. A decline in Bitcoin prices directly impacts CIFR's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
CleanSpark shares fell 17.4% to $11.13 in pre-market trading after a more than 10% drop on Friday.
The continued decline in CleanSpark's stock price suggests persistent negative sentiment or external factors affecting the company.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
First Financial Bankshares shares declined 23.9% to $26.99 in pre-market trading after a 3% drop on Friday.
The significant pre-market decline follows a previous drop, indicating potential ongoing negative sentiment or issues within the company.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Iris Energy shares fell 17.2% to $7.14 in pre-market trading after a 7% decline on Friday.
The significant pre-market decline follows a previous drop, indicating potential ongoing negative sentiment or issues within the company.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
MicroStrategy shares fell 17.2% to $1,199.52 in pre-market trading due to a sharp decline in Bitcoin prices.
MicroStrategy's stock is highly correlated with Bitcoin prices due to its significant Bitcoin holdings. A sharp decline in Bitcoin prices directly impacts MSTR's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
B. Riley Financial shares dipped 12.9% to $15.87 in pre-market trading after a 5% decline on Friday.
The significant pre-market decline follows a previous drop, indicating potential ongoing negative sentiment or issues within the company.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Riskified shares fell 14.4% to $5.00 in pre-market trading ahead of its Q2 financial results release.
The pre-market decline may be due to investor uncertainty or negative expectations ahead of the Q2 financial results release.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Serve Robotics shares declined 16.4% to $12.21 in pre-market trading after a 15% drop on Friday.
The continued decline in Serve Robotics' stock price suggests persistent negative sentiment or external factors affecting the company.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
TeraWulf shares fell 13.1% to $3.19 in pre-market trading after a more than 10% drop on Friday.
The continued decline in TeraWulf's stock price suggests persistent negative sentiment or external factors affecting the company.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80