We recently compiled a list of the 10 Biggest Losers of This Week. In this article, we are going to take a look at where MARA Holdings Inc. (NASDAQ:MARA) stands against the other stocks.
Wall Street’s main indices all finished in the green during a shortened trading session this week, yet 10 companies–mainly technology stocks– still booked significant losses in their valuations. Let’s take a look at the extent of each company’s losses and the potential factors that could have dampened investor sentiment.
To come up with the biggest losers this week, we considered only the stocks that have at least $2 billion in market capitalization and $5 million in daily trading volume.
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MARA Holdings Inc. (NASDAQ:MARA)
Bitcoin miner MARA Holdings saw its share price dive by 16.5 percent in the last five trading days of the week, closing at $20.15 from $24.12 on Wednesday.
In the first two trading days alone, shares were flat at $20.15 versus the $19.96 opening price on Monday.
According to analysts, investor appetite was dampened by disappointing third-quarter results, including a $124.8 million net loss compared to a $64.1 million net income in the same period last year.
Revenue missed analyst expectations by 8.8 percent, and earnings per share (EPS) missed estimates by 20 percent, further dampening investor sentiment.
Overall MARA ranks 2nd on our list of the biggest losers of this week. 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.
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Disclosure: None. This article is originally published at Insider Monkey.