Keep an eye on Hut 8 Corp. (HUT), another Bitcoin miner.
With Bitcoin set to move even higher this week, the mining stock is sure to follow along. Look at Riot Platforms (RIOT), for example. The last two times we mentioned RIOT, the stock took off. For example, on November 21, we mentioned the stock as it traded around $11. Then, we mentioned it again on December 6, as it traded around $15. Today, RIOT is up to $15.83, and if it can break above $16, it could test $20.
With HUT, the stock is just starting to pivot higher from oversold conditions. Currently trading at $10.25, we’d like to see it initially test $13 a share.