Fundamentally, cryptocurrency miner CleanSpark Inc (NASDAQ:CLSK) has likely been moving higher due to speculation of monetary policy. In the trailing five sessions, for example, CLSK stock has jumped over 13%. Heading into the Federal Reserve Open Market Committee's (FOMC) decision on a dovish adjustment of the benchmark interest rate — and more importantly commentary regarding the forward outlook — the security gained over 1%.
Still, it could ultimately be rising short interest that helps move CLSK stock even higher. Even more enticing, the stock is flashing a strong technical signal that is almost surely on the watchlist of meme traders and other market gamblers.
