We recently published a list of 11 Firms Under Tech, Energy, Aviation Lead Friday Rally. In this article, we are going to take a look at where MARA Holdings Inc. (NASDAQ:MARA) stands against other firms under tech, energy, and aviation, which led Friday’s rally.
Wall Street’s main indices finished in the green territory on Friday amid a series of catalysts buoying investor appetite.
The Dow Jones Industrial Average rose by 0.80 percent, while the S&P 500 and Nasdaq Composite rallied by 1.26 percent and 1.77 percent, respectively.
Eleven companies—predominantly in the technology, energy, and aviation sectors—posted notable gains. Here is why:
To come up with Friday’s top advancers, 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.
MARA Holdings Inc. (NASDAQ:MARA)
Shares of MARA Holdings (NASDAQ:MARA) rose for a second day on Friday, rallying by 14.12 percent or 2.43 points to close at $19.64 each.
Similar to TeraWulf and CleanSpark, shares in MARA Holdings—a Bitcoin mining company—were buoyed by higher Bitcoin prices.
On Friday, prices of Bitcoin cracked past the $97,000 territory as the cryptocurrency tried to retest its $100,000 resistance level.
Investor sentiment was also buoyed by news that the company surpassed its annual hash rate target by an impressive 168 percent after reporting a solid month of Bitcoin production. In December alone, MARA Holdings (NASDAQ:MARA) achieved a record-breaking 53.2 exahashes per second (EH/s), surpassing its 50 EH/s target.
According to the company, the achievement represented a 15 percent improvement from the previous month, boosted by increased investment in mining equipment.
Overall, MARA ranks 8th on our list of firms under tech, energy, and aviation, which led Friday’s rally. 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 time frame. 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.