Why BitNile Stock Is Trading Higher Today

BitNile Holdings Inc NILE shares are trading higher after Monday the company announced 2021 financial results showing higher revenues year-over-year.

BitNile said full-year 2021 revenue increased 120% year-over-year to $52 million. The company reported a net loss of $24.2 million, which was improved from a net loss of $32.7 million in the prior year. 

At the end of the year, BitNile had $15.9 million of cash, $40.4 million of marketable securities, $2.2 million of digital currencies and $84.9 million in other investments. 

BitNile is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact.

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NILE 52-Week Range: $0.50 - $1.76

According to data from Benzinga Pro, the stock was up 19.1% at 66 cents at time of publication.

Photo: SergDE from Pixabay.