Why MARA Holdings, Inc. (MARA) Went Down on Tuesday

We recently published an article titled Two of 10 Worst-Performing Stocks Fall to All-Time Lows on Tuesday. In this article, we are going to take a look at where MARA Holdings, Inc. (NASDAQ:MARA) stands against the other stocks.

Wall Street extended a lackluster performance on Tuesday, with two of its major indices ending with marginal movements amid a series of key economic factors dampening investor sentiment.

Only the Dow Jones finished in the green territory, posting a 0.37 percent gain. In contrast, the S&P decreased by 0.47 percent while the tech-heavy Nasdaq fell by 1.37 percent.

Mirroring the mostly broader pessimism are 10 companies, with two even falling to new all-time lows. In this article, we have detailed the reasons behind their drop.

To come up with Tuesday’s worst performers, we considered only the stocks with $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.

MARA Holdings, Inc. (NASDAQ:MARA)

MARA Holdings, Inc. (NASDAQ:MARA) fell to its lowest level on Tuesday, touching $12.05 before early bargain-hunting persisted at intra-day trading, pushing its stock a little higher to end at $12.41 apiece.

Tuesday finished represented a 10.62-percent drop as well as its third consecutive day in the red territory, with the drop in line with other cryptocurrency stocks amid Bitcoin’s downward trajectory.

The cryptocurrency, which was trading at all-time highs following President Donald Trump’s support of the industry, lost as much as 19 percent to just around the $88,000 level as of this writing, from the $109,000 record on January 20 when Trump returned to the White House, as investor caution appeared to have taken center stage amid uncertainties from government policies under his administration.

MARA Holdings, Inc. (NASDAQ:MARA), a Bitcoin mining company, is currently one of the largest Bitcoin miners and holders, with a total of 44,893 Bitcoins.

Overall MARA ranks 10th on our list of Tuesday’s worst performers. While we acknowledge the potential of MARA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as MARA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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