Why MARA Holdings (MARA) Went Up on Tuesday

We recently published a list of These 10 Stocks Exploded by Double Digits Today. In this article, we are going to take a look at where MARA Holdings, Inc. (NASDAQ:MARA) stands against other best-performing stocks.

MARA Holdings snapped a four-day losing streak on Tuesday, jumping 11.61 percent to end at $16.44 apiece as investors cheered its Bitcoin revenue hitting a new all-time high on the back of the cryptocurrency’s record price.

In a regulatory filing on Monday, MARA Holdings, Inc. (NASDAQ:MARA) said it exceeded $752 million in revenues, making it the most profitable day in the company’s history.

An aerial view of a bustling financial district, with skyscrapers and a large financial institution in the city center.

MARA Holdings, Inc.’s (NASDAQ:MARA) rally followed Bitcoin’s record high of $112,000 apiece on May 22, with analysts pointing to the easing trade tensions between the US and China as having buoyed sentiment.

In the first quarter of the year, MARA Holdings, Inc. (NASDAQ:MARA) swung to a net loss of $533 million from a net income attributable to shareholders of $337 million in the same period last year. Revenues increased by 30 percent to $214 million from $166 million year-on-year.

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