Why TeraWulf Inc. (WULF) 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 TeraWulf Inc. (NASDAQ:WULF) 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.

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TeraWulf Inc. (NASDAQ:WULF)

TeraWulf Inc. (NASDAQ:WULF), one of the heavyweights in Bitcoin mining, increased its share prices by 24.51 percent in just a week, finishing at $6.40 on Friday.

Terawulf (NASDAQ:WULF) rallied in line with its Bitcoin mining counterparts ahead of president-elect Donald Trump’s return to office on Monday.

Trump—previously a crypto market critic—signaled last year a robust cryptocurrency market under his administration, an asset that his family is directly invested in.

A report from Bloomberg earlier this month said that Trump is set to release a new executive order as soon as his first day in office, which would make cryptocurrency a national priority. The new order is expected to give people with influence in the industry a voice in the incoming administration.

As of January 3, 2025, Terawulf’s (NASDAQ:WULF) total ownership in Bitcoin stands at 2,728, of which 158 were self-mined last month alone.

Overall WULF ranks 7th on our list of the firms that dominated last week’s rally. While we acknowledge the potential of WULF as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than WULF but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

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