We recently compiled a list of the Why These 10 Stocks Were Skyrocketing on Friday. In this article, we are going to take a look at where MARA Holdings, Inc. (NASDAQ:MARA) stands against the other stocks that were skyrocketing on Friday.
Wall Street saw a strong trading session on Friday, with all major indices finishing firmly in the green ahead of President-elect Donald Trump’s return to office.
The Dow edged higher by 0.78 percent, while the S&P rallied 1 percent. Nasdaq, for its part, jumped 1.51 percent.
Ten companies—predominantly Bitcoin miners—were among the day’s standout performers, posting significant gains amid growing optimism in the broader cryptocurrency market, thanks to Trump’s commitment to supporting the sector.
To come up with Friday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
An aerial view of a bustling financial district, with skyscrapers and a large financial institution in the city center.
Shares of MARA Holdings, Inc. (NASDAQ:MARA) finished higher on Friday, adding 8.8 percent to end at $19.91 apiece as investors gobbled up shares in MARA Holdings (NASDAQ:MARA) in hopes that the cryptocurrency industry is set for a boost under the incoming Trump administration.
Earlier reports said that Trump could release an executive order making cryptocurrency a national priority as soon as day one of his new term.
Additionally, a cryptocurrency advisory is being eyed to give the industry a voice within his administration. A Bitcoin stockpile is part of discussions about a possible executive order that would cover several areas of crypto policy.
Trump, a former critic of cryptocurrency, has said that he will advocate for industry concerns during his upcoming administration, including appointing David Sacks as the newly-created “Crypto Czar” cabinet position to advance regulation and create a “strategic bitcoin reserve.”
Overall MARA ranks 6th on our list of the top-performing stocks from Friday’s session. While we acknowledge the potential of MARA as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than MARA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap
MARA Holdings, Inc. (MARA) experienced a significant surge in its stock price on Friday, leaving investors and analysts alike wondering what caused the sudden spike. Several factors could be attributed to the impressive performance of MARA on that day.
Firstly, positive news or announcements related to the company could have boosted investor confidence and led to increased buying activity. This could include new partnerships, acquisitions, product launches, or other developments that suggest potential growth and profitability for MARA.
Secondly, the overall market sentiment and industry trends may have played a role in MARA’s skyrocketing stock price. If there was a positive sentiment in the market or within the technology sector in which MARA operates, investors may have been more willing to buy shares of the company.
Lastly, it is also possible that MARA’s stock price was influenced by external factors such as macroeconomic news, geopolitical events, or changes in investor sentiment towards the cryptocurrency and blockchain industry. MARA is known for its involvement in the blockchain technology and cryptocurrency space, so any positive news or developments in this industry could have positively impacted the company’s stock price.
Overall, the reasons behind MARA’s impressive performance on Friday are likely a combination of company-specific news, market sentiment, and industry trends. Investors should continue to monitor these factors to better understand and potentially capitalize on future movements in MARA’s stock price.
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