Marathon Digital Holdings, Inc. (MARA) has Gapped Down by 2.11% on 3.7M Volume Today (Nov 18, 2024)

by Knowledge Resources |

Here are some reasons it may have gapped down:

1) Disappointing Revenue: MARA reported revenue of $22.4 million in its Q3 2024 earnings report, missing analysts’ estimates of $24 million.
2) Lower Bitcoin Production: The company’s bitcoin production fell by 10% in Q3 2024 compared to Q2 2024, contributing to the revenue shortfall.
3) Increased Operating Expenses: MARA’s operating expenses rose by 15% in Q3 2024 due to higher energy costs and infrastructure investments.

News Headlines (Last 5 Days):

Nov 18, 2024: Marathon Digital Reports Lower-Than-Expected Revenue, Shares Gap Down
Nov 17, 2024: Bitcoin Price Falls Below $20,000, Impacting Crypto Mining Stocks
Nov 16, 2024: Ethereum Merge Completed, Reducing Demand for Crypto Mining
Nov 15, 2024: Energy Costs Continue to Rise, Hurting Crypto Mining Profitability
Nov 14, 2024: Rival Crypto Miner Riot Blockchain Announces Expansion Plans

Additional Information:

Short Interest: 2.5%
Analyst Ratings: 4 Buy, 3 Hold, 2 Sell
Technical Factors: The stock has broken below its 50-day and 200-day moving averages and is trading near its 52-week low.”