Shares of MARA Holdings Inc. (NASDAQ: MARA) are under significant selling pressure on Tuesday, May 28th, with the stock price falling to $15.14 USD as of 12:17 pm GMT-4. This represents a substantial intraday decline of $1.30, or 7.88%, signaling a tough session for the Bitcoin mining company.
MARA Holdings opened the trading day at $16.31, which also marked its intraday high. However, the stock quickly reversed course, trending downwards throughout the morning. The previous closing price for MARA was $16.44. The shares have since touched an intraday low of $15.10, indicating that the current price is near the bottom of today’s trading range.
The intraday chart for MARA shows a steep drop from the opening bell, followed by some consolidation around the $15.20 level before testing lower. This sharp pullback is likely catching the attention of traders and investors who closely follow the cryptocurrency mining sector, which can be highly volatile and often correlated with Bitcoin’s price movements.
From a financial perspective, MARA Holdings has a market capitalization of 532.99Cr. The company currently does not have a reported P/E ratio or a dividend yield, which is common for many companies in the digital asset space, often focused on growth and reinvestment.
Looking at the stock’s performance over a wider timeframe, MARA’s 52-week high stands at $30.28, while its 52-week low is $9.81. Today’s significant drop places the stock well off its annual highs and closer to the lower end of its yearly trading range. Investors will be watching to see if the stock can find support at these lower levels or if broader market and crypto-specific factors will continue to weigh on its performance.
