These 10 Stocks Lost This Much Today

7. Bitdeer Technologies Group (NASDAQ:BTDR)

Bitdeer Technologies dropped its share prices by 10.13 percent on Friday to end at $12.86 each as investors sold off positions in line with the company’s ongoing buyback plan that kicked off on the same day.

Sentiment may have also been dampened by the lackluster performance of Bitcoin during the day, having gained only 0.16 percent to hover at the $104,000 level as of this writing.

Earlier this week, Bitdeer Technologies Group (NASDAQ:BTDR) maintained its “buy” recommendation from investment firm B. Riley, with a higher price target of $18 versus $17 previously.

According to B. Riley, the higher price target was based on optimism about its entry into the ASIC market, its aggressive expansion in self-mining operations, as well as the ongoing growth of the high-performance computing operations at its key facilities.

In the first quarter of the year, Bitdeer Technologies Group (NASDAQ:BTDR) saw net income soar by more than 67,000 percent to $409 million from only $600,000 in the same period last year.

Revenues, however, dropped by 41 percent to $70 million from $119 million year-on-year.