$MARA has posted a killer earnings report of all time.
- Impressive EPS of $0.87
- $9.2 revenue (+1500% Y/Y growth)
- Adjusted EBITDA OF $137 million (loss of $150k from last year)
- Produced 386 bitcoins in the first quarter of 2021
- $MARA’s active mining fleet comprised of 13,644 miners generate 1.5 ETH/ sec (vs. 0.71ETH with 6800 miners last year)
The company seems to be at the top in every aspect. Why has the share price dropped by 15% right after the earnings then?
Well, this has become a regular happening in the market now. I am worried to see good performing companies experiencing a fall in price action after posting impressive earnings. It shows us how strong the manipulators and short-sellers are. FUD spreads easily among investors and can successfully lead to volatility in the market. This pushes the share price down.
So what do I think about $MARA & $RIOT?
My thoughts haven’t changed one bit. These are two absolutely brilliant companies in the mining business. Unfortunately, external factors like the price of bitcoin, etc., dictate the share price of these companies. In spite of all these dynamics, both these companies will easily be a $100/share value company at the right time.
So I see the dip as a buying opportunity just as always.
Good luck and play safe