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 TeraWulf Inc. (NASDAQ:WULF) 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.
TeraWulf Inc. (NASDAQ:WULF)
Bitcoin miner TeraWulf Inc. (NASDAQ:WULF) saw its stock price by 13.92 percent or 0.76 points to close this week’s trading at $6.22 apiece after the price of Bitcoin broke past the $97,000 mark, as it tries to gun its way to the $100,000 resistance level.
According to analysts, investors bought up shares of TeraWulf (WULF) and other Bitcoin mining companies as traders await more updates and developments on the cryptocurrency under the incoming presidency of Donald Trump.
The Trump family, through son Eric, already signaled earlier that the incoming administration will embrace cryptocurrency, a business sector in which the Trump family is directly invested.
The statement warmly welcomed investors, sending share prices of Bitcoin miners —including TeraWulf (WULF)— rallying over the past few months.
Overall, WULF ranks 10th on our list of firms under tech, energy, and aviation, which led Friday’s rally. While we acknowledge the potential of WULF 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 WULF 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.