Why CleanSpark, Inc. (CLSK) Dominated Last Week’s Rally

We recently compiled a list of the These 10 Firms Dominated Last Week’s Rally. In this article, we are going to take a look at where CleanSpark, Inc. (NASDAQ:CLSK) stands against the other stocks that dominated last week’s rally.

Last week saw a strong trading finish with Wall Street’s main indices all settling in the green territory ahead of President-elect Donald Trump’s return to the White House.

Week-on-week, the Dow eked out a 3.81-percent gain, the S&P rallied 3.79 percent, while the Nasdaq increased by 3.84 percent.

Last week, 10 companies from diverse sectors outpaced their peers. Let’s take a closer look at which publicly-listed firms led the charge and what fueled their impressive performance.

For this week’s list of the 10 biggest advancers, we focused exclusively on companies with a market capitalization of at least $2 billion and a minimum trading volume of $5 million.

A hall of server racks, illuminated by blue LED lights and humming with energy.

CleanSpark, Inc. (NASDAQ:CLSK)

Bitcoin miner CleanSpark, Inc. (NASDAQ:CLSK) saw its share prices increase by 25.01 percent over the past five trading days to finish at $11.87 apiece as hopes were fueled by the incoming administration’s promising plans for the cryptocurrency industry.

President-elect Donald Trump, who was previously a firm critic of the cryptocurrency industry, signaled a robust crypto market under his administration, an asset that his family is directly invested in.

A report said that Trump is set to release a new executive order that would make cryptocurrency a national priority as soon as his first day in office. The new order is expected to provide people with influence in the industry a voice in his administration.

CleanSpark, Inc. (NASDAQ:CLSK) stands to benefit from any potential plan, having held more than 10,000 Bitcoins in its treasury which are all self-mined from its US-based operations. Year-on-year, CleanSpark’s total holdings in Bitcoin represent a 236-percent increase.

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Disclosure: None. This article is originally published at Insider Monkey.