Shares of Bitcoin (CRYPTO: BTC) miner MARA Holdings Inc (NASDAQ:MARA) traded sharply lower Friday afternoon, mirroring a Friday downturn in the cryptocurrency market. Here’s what investors need to know.
What To Know: The stock’s fall is a direct consequence of Bitcoin’s price earlier tumbling below the critical $106,000 support level, at one point crashing 5% to under $104,000.
As a Bitcoin mining company, Marathon’s financial health is intrinsically linked to the price of Bitcoin. The company’s primary revenue stream comes from mining and earning new bitcoins, and it holds a significant amount of the cryptocurrency on its balance sheet.
When Bitcoin’s price falls, the profitability of Marathon’s mining operations decreases, and the value of its assets declines. This directly impacts investor sentiment and triggers sell-offs.
Friday’s crypto downturn is being attributed to renewed U.S.-China trade tensions and over $1.6 billion in recent outflows, souring market sentiment and pressuring companies with direct exposure to the digital asset.
Benzinga Edge Rankings: Despite the day’s negative performance, Benzinga Edge Rankings highlight the stock’s exceptional Growth score of 99.13.
MARA Price Action: MARA shares were down 3.80% at $19.49 at the time of publication on Friday, according to data from Benzinga Pro. The stock is trading within its 52-week range of $9.81 to $30.28, reflecting significant volatility over the past year.
From a technical perspective, MARA is currently trading 13.2% above its 50-day moving average of $17.22 and 22% above its 200-day moving average of $15.98. This positioning suggests a bullish trend in the medium to long term, although the recent decline may raise concerns among investors.
Read Also: Stocks Shrug Off Bank Fears, AMEX Jumps: What’s Moving Markets Friday?
How To Buy MARA Stock
By now you’re likely curious about how to participate in the market for MARA Holdings – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
In the case of MARA Holdings, which is trading at $19.58 as of publishing time, $100 would buy you 5.11 shares of stock.
If you’re looking to bet against a company, the process is more complex. You’ll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
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