If you follow me closely, you know that Marathon Digital Holdings (MARA) is one of my absolute favorite stocks.
I’m in it for the long, long term, as I think it has potential for major growth over time.
But this week, we saw a shocking dropoff in the price of the stock, which is down 30 percent over the last five days.
So why did such a major dropoff happen in one of my favorite stocks?
Well, let’s talk about it!
More on MARA and Other Crypto
Read on to hear a few more of my thoughts on MARA…
But if you want the FULL scoop, I went LIVE yesterday with my weekly appreciation webinar.
I talked about a TON of stocks and cryptos, including BTC, ETH, and ANKR, and I gave the details on how to join me in a special crypto class on Friday!
They announced a bit of a strange dilution. They were going to release notes that were convertible, and they were NOT going to call them “securities.”
But the SEC issued subpoenas to many of the executives to make sure everything was above board.
That freaked out of investors, which led to the big selloff on Monday, but we began to see the consolidation yesterday.
In fact, the high price reached up and hit the 0.5 level, but bounced back before the close.
Now, if you had followed me last week, you might not have been caught by surprise.
I had been mentioning that when we hit the 2.618 target, we might see a significant retrace all the way back to the prior breakout area, which we did, in a 1-2-3 move.
It’s a corrective move. The market does that from time to time.
But nothing is wrong. I didn’t dump any shares or change anything. I’m just sitting through this and waiting for the move back higher.
I still have triple digits in view.
Hope that helps ease your mind a little bit,
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