What's Going On With Marathon Digital Holdings Stock?

Marathon Digital Holdings, Inc. MARA shares are trading lower Wednesday. The stock appears to be pulling back after gaining more than 15% on Tuesday.

What To Know:

Shares of MARA rose on Tuesday after a federal court ruled that the Securities and Exchange Commission (SEC) was wrong to reject the application from Grayscale Investments to convert its Grayscale Bitcoin Trust GBTC into a spot Bitcoin BTC/USD ETF.

MARA is moving on heavy trading volume Wednesday. According to Benzinga Pro, more than 15 million shares have already been traded, compared to the stock's 100-day day average of 37.775 million shares.

Marathon Digital Holdings' stock has grabbed the attention of retail investors and short-sellers alike. The stock is one of the top trending tickers on Yahoo! Finance, and 26.66% of available shares are being sold short, according to Benzinga Pro.

Marathon Digital Holdings, Inc. owns crypto-currency mining machines and a data center to mine digital assets.

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MARA Price Action: According to Benzinga Pro, Marathon Digital Holdings shares are down 6% at $12.86 at the time of publication.

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Image: MichaelWuensch from Pixabay