Why CleanSpark, Inc. (CLSK) Dominated Last Week’s Rally

We recently compiled a list of the These 10 Firms Dominated Last Week’s Rally. In this article, we are going to take a look at where CleanSpark, Inc. (NASDAQ:CLSK) stands against the other stocks that dominated last week’s rally.

Last week saw a strong trading finish with Wall Street’s main indices all settling in the green territory ahead of President-elect Donald Trump’s return to the White House.

Week-on-week, the Dow eked out a 3.81-percent gain, the S&P rallied 3.79 percent, while the Nasdaq increased by 3.84 percent.

Last week, 10 companies from diverse sectors outpaced their peers. Let’s take a closer look at which publicly-listed firms led the charge and what fueled their impressive performance.

For this week’s list of the 10 biggest advancers, we focused exclusively on companies with a market capitalization of at least $2 billion and a minimum trading volume of $5 million.

A hall of server racks, illuminated by blue LED lights and humming with energy.

CleanSpark, Inc. (NASDAQ:CLSK)

Bitcoin miner CleanSpark, Inc. (NASDAQ:CLSK) saw its share prices increase by 25.01 percent over the past five trading days to finish at $11.87 apiece as hopes were fueled by the incoming administration’s promising plans for the cryptocurrency industry.

President-elect Donald Trump, who was previously a firm critic of the cryptocurrency industry, signaled a robust crypto market under his administration, an asset that his family is directly invested in.

A report said that Trump is set to release a new executive order that would make cryptocurrency a national priority as soon as his first day in office. The new order is expected to provide people with influence in the industry a voice in his administration.

CleanSpark, Inc. (NASDAQ:CLSK) stands to benefit from any potential plan, having held more than 10,000 Bitcoins in its treasury which are all self-mined from its US-based operations. Year-on-year, CleanSpark’s total holdings in Bitcoin represent a 236-percent increase.

Overall CLSK ranks 10th on our list of the firms that dominated last week’s rally. While we acknowledge the potential of CLSK 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 CLSK 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

Disclosure: None. This article is originally published at Insider Monkey.