Marathon Digital Holdings, $MARA, is one of the first Nasdaq-listed Cryptocurrency mining companies. Using specialized computers, they mine cryptocurrencies with a focus on the formation of digital assets.
As Bitcoin, Ethereum and other cryptocurrencies start to gain acceptance, it is essential to be on the lookout for companies that are potential leaders in this new and exciting field. I first came across Marathon while scanning through charts. What first struck me was the phenomenal move from $5 to $49. This massive uptrend was accompanied by large skyscraper accumulation and was followed by continued support at the 10-week line. Mara has been on my watchlist for the past few weeks, and I took a position in it today. Due to the volatile nature of this stock and the industry it is in, I am using a wider percentage stop that normal to give MARA some extra room to move.
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Full Disclosure: I currently own shares of MARA. Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.