Marathon Digital (MARA)

by | Nov 29, 2021 | Daily Trade Alerts

Investors may want to consider Marathon Digital (MARA).

After gapping form a high of about $83.45 to $49.20, the stock appears to have caught strong support and could soon pivot higher. Helping, Bitcoin is also beginning to pivot higher from oversold conditions, which could force mining stocks, like MARA to higher highs.

Earnings growth has also been attractive.

In Q3 2021, the company said it Increased total revenue to $51.7 million, a 76% increase from $29.3 million in the second quarter of 2021 and a 6,091% increase year-over-year from $835,000 in the third quarter of 2020. It also produced 1,252 self-mined bitcoins in the third quarter of 2021, a 91% increase from 654 bitcoins in the second quarter of 2021; as of September 30, 2021, produced 2,098 self-mined bitcoins in 2021.

From a current price of $49.20, we’d like to see MARA closer to $84.35 again, near-term.

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