Why Bitcoin- And Ethereum-Related Stock Greenidge Generation (GREE) Is Exploding 50% Higher

Greenidge Generation Holdings Inc GREE shares are trading higher by some 55% to $1.02 Thursday afternoon. Shares of several companies in the broader tech sector, including Greenidge Generation, are trading higher amid overall market strength following December's CPI report, which showed signs of cooling inflation.

Greenidge Generation is also trading higher Thursday as several crypto-related stocks gain amid a rise in Bitcoin and Ethereum prices.

What Happened With CPI Data Thursday?

The consumer price index rose 6.5% in December, down from 7.1% in November, according to data the Labor Department reported on Thursday. 

The December CPI reading was in line with average economist estimates of 6.5%.

Core inflation, which excludes volatile food and energy prices, was up 5.7% in December, in line with average economist estimates for a 5.7% gain...Read More

According to data from Benzinga Pro, GREE has a 52-week high of $16.32 and a 52-week low of $0.22.