Technology

MARA Stock: Why Red-Hot Marathon Digital gained 10% today

Today, investors Digital marathon (NASDAQ:MARA) and MARA see a lot of green. Indeed, Marathon shares closed up more than 10%.

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As one of the biggest self-exploiters Bitcoin (CCC:BTC-USD) in North America, Marathon is considered a flagship stock by many cryptocurrency investors. As a result, for those who think Bitcoin prices could move up from here, MARA stock is one of the stocks that cryptocurrency investors are likely to pile on.

Why?

Well, crypto mining companies have a higher leverage on the underlying cryptocurrencies than the tokens and coins themselves. As prices rise, these miners receive a disproportionate increase in results. Like gold miners, crypto miners play a higher leverage role on the price of the underlying product.

In addition to the widespread bullish sentiment currently playing in crypto mining stocks like Marathon, there are a few other newsworthy elements that investors are evaluating today. Let’s take a look at what’s going on with MARA stocks right now.

MARA Stock Positive Catalyst Investors Price Today

On Monday, Marathon announced a business reshuffle.

Marathon announces that Fred Thiel will take over as CEO, effective immediately. This development seems to be viewed very positively by the markets. Since the announcement, MARA shares have climbed about 30% from Friday’s lows.

According to the press release, Mr. Thiel “has a long history of leading and growing successful organizations in a variety of industries, and he has a unique and in-depth understanding of cryptocurrency and blockchain technology. .

Of course, this news also coincided with a marked improvement in Bitcoin prices since the weekend.

In addition to these two catalysts, Marathon also announced that it will participate in the upcoming Forbes cryptocurrency webinar tomorrow. This webinar aims to educate investors on how to invest directly and indirectly in crypto.

As of the publication date, Chris MacDonald does not have (directly or indirectly) any position in any of the stocks mentioned in this article.

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