Why MARA Holdings, Inc. (MARA) Went Down On Wednesday

We recently published a list of 10 Stocks Crash Harder Than Wall Street. In this article, we are going to take a look at where MARA Holdings, Inc. (NASDAQ:MARA) stands against other worst-performing stocks.

MARA Holdings fell by 9.61 percent on Wednesday to close at $14.86 apiece as investor sentiment was dampened by the drop in Bitcoin prices during the day.

As of 6:07 PM EST, the price of Bitcoin was down by 1.43 percent at the $107,000 level, as investors continued to take profits after hitting a new all-time high last week. MARA Holdings, Inc. (NASDAQ:MARA) dropped alongside its counterparts, CleanSpark Inc. and Riot Platforms Inc.

Earlier this month, MARA Holdings, Inc. (NASDAQ:MARA) said that it was able to mine 705 Bitcoins last month, which was 15 percent lower than the 829 Bitcoins mined in March. This brought its total ownership to 48,237.

MARA Holdings, Inc. (NASDAQ:MARA) also underscored that it opted not to sell any Bitcoin during the period.

“We remain laser-focused on transforming MARA into a vertically integrated digital energy and infrastructure company,” said MARA Holdings, Inc. (NASDAQ:MARA) Chairman and CEO Fred Thiel.

Overall, MARA ranks 7th on our list of worst-performing stocks. While we acknowledge the potential of MARA, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MARA and that has 10,000x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.