Crypto stocks like MARA and RIOT are struggling, facing bear markets and significant losses

From Nasdaq: 2024-09-26 09:05:00

Crypto-related stocks, once popular due to Bitcoin’s surge, have lost their luster as Bitcoin hovers near key resistance levels. Investors wonder if the hype is gone or if there is still value in these stocks.

Bitcoin remains stable, with an 8.7% decline in the past six months but up 143% over the year. Recent consolidation near all-time highs may signal a potential breakout.

Marathon Digital Holdings (MARA) enters a bear market with a 20% drop in share price over six months and a significant earnings miss, reporting a loss of ($0.72) per share.

Riot Platforms (RIOT) sees a 60% drop from its 52-week high, with an earnings report showing a loss of ($0.32) per share, double the expected loss.

Analysts forecast potential upside for both MARA and RIOT, but their underperformance compared to Bitcoin raises concerns about a swift recovery. Investors should closely monitor Bitcoin’s movement before considering these stocks.



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