Easily one of the most talked-about investments on Wall Street is Marathon Digital (MARA). Specializing in blockchain mining – particularly the benchmark cryptocurrency – MARA stock has been in the spotlight thanks to the stratospheric run of the underlying sector. While the company recently released its earnings report, the real story has been the projected trajectory of major blockchain assets.
Despite the rabid enthusiasm for virtual currencies, the sector also provided some pause for thought. On Thursday, MARA stock tanked despite the underlying company generating revenue of $156.7 million, handily beating analysts’ consensus target by $11.27 million. High short interest combined with some cold feet regarding the crypto market’s mercurial run likely contributed to the fallout.
