Why MARA Holdings, Inc. (MARA) Soared on Friday

We recently compiled a list of the Why These 10 Stocks Soared on Friday. In this article, we’ll take a look at where MARA Holdings, Inc. (NASDAQ:MARA) stands compared to the other stocks that soared on Friday.

Wall Street had a strong day of trading on Friday, with all major indexes closing firmly in the green ahead of President-elect Donald Trump’s return to office.

The Dow rose 0.78 percent while the S&P gained 1 percent. For its part, the Nasdaq rose 1.51 percent.

Ten companies – mostly Bitcoin mining companies – were among the day’s top performers, posting significant gains amid growing optimism in the broader cryptocurrency market thanks to Trump’s commitment to supporting the sector.

To identify Friday’s top gainers, we only considered stocks with a market cap of at least $2 billion and a daily trading volume of $5 million.

An aerial view of a busy financial district with skyscrapers and a large financial institution in the city center.

MARA Holdings, Inc. (NASDAQ:MARA) shares ended Friday up 8.8 percent, closing at $19.91 apiece, as investors gobbled up shares of MARA Holdings (NASDAQ:MARA), hoping that the cryptocurrency industry is in for a boost with the new Trump administration.

According to previous reports, Trump could issue an executive order making cryptocurrencies a national priority as early as the first day of his new term.

Additionally, it is considering a cryptocurrency consultancy to give the industry a voice within its government. A Bitcoin supply is part of discussions about a possible executive order that would cover several areas of crypto policy.

Trump, a former cryptocurrency critic, has said he will champion the industry’s causes during his upcoming term, including naming David Sacks to the newly created Cabinet post “Crypto Czar” to advance regulation and develop a “strategic Bitcoin reserve”.

Overall MARA takes 6th place on our list of best-performing stocks from Friday’s session. While we recognize MARA’s potential as an investment, we believe AI stocks have more promise for delivering higher returns, and within a shorter time frame. If you’re looking for an AI stock that has more promise than MARA but trades at less than 5x earnings, check out our report on it cheapest AI stock.

READ MORE: The 20 Best AI Stocks to Buy Now And Full list of 59 AI companies with a market cap of less than $2 billion

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