What's Going On With HIVE Shares Monday?
Portfolio Pulse from Dylan Berman
HIVE Digital Technologies (NASDAQ:HIVE) shares are down 11.1% following an 8.64% drop in Bitcoin's price. Despite HIVE's recent production of 116 Bitcoin in July 2024 and significant purchases of new ASIC miners, the stock is affected by Bitcoin's volatility.
August 05, 2024 | 3:32 pm
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NEGATIVE IMPACT
HIVE Digital Technologies shares are down 11.1% due to an 8.64% drop in Bitcoin's price. Despite producing 116 Bitcoin in July 2024 and acquiring new ASIC miners, the stock is impacted by Bitcoin's volatility.
HIVE's stock price is closely tied to Bitcoin's performance. The significant drop in Bitcoin's price directly impacts HIVE's stock negatively, despite the company's positive production and acquisition news.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100