Q4 earnings report fuels a remarkable 20% surge in Tesla’s stock
Investor optimism surrounding Marathon has caused its shares to surge by more than 20% as the market eagerly awaits the company’s upcoming earnings report. This excitement is largely fueled by the recent surge in Bitcoin’s price and the potential impact it could have on Marathon’s financial performance. According to data from Google Finance, Marathon’s stock (MARA) on Nasdaq jumped by 21% to $29 on February 27th. Zacks Investment Research analysts are projecting Q4 revenues to reach $138.2 million, a remarkable increase of over 100% compared to the same period last year. This represents a staggering year-over-year growth of 385%. Seeking Alpha analyst Thomas Potter emphasizes the significance of the upcoming earnings call as it will provide valuable insights into the company’s ability to maintain or even improve its financial position. According to Zacks, the consensus estimate for MARA’s bottom line is $0.05 per share. Additionally, the forthcoming report is expected to highlight Marathon’s preparedness for the upcoming halving event, which will cut Bitcoin mining rewards in half. This event occurs approximately every four years and is designed to combat inflation and preserve Bitcoin’s value over time. It reduces the rate at which new Bitcoins are created and, consequently, the total supply of BTC in circulation. Overall, Marathon’s positive performance and preparation for future events have garnered significant investor interest and contributed to the surge in its stock price.
