Bitcoin Miners Hive Digital, Hut 8, Bitfarms To Report Earnings As Future Of Crypto 'Has Never Been Brighter'

Pseudonymous crypto trader Cold Blooded Shiller laid out the case for investing in crypto-related stocks over cryptocurrencies.

What Happened: The trader announced on his X profile that he has been building positions for months, incurring a significant profit.

In his “Ultimate Crypto Stocks” thread, he shared a comparison of crypto stocks and coins, highlighting those stocks such as MicroStrategy (up 960%) and Coinbase (up 350%), which have outperformed Bitcoin (up 210%) since October 2023.

In the 2021 bull market, crypto stocks like Riot Platforms (up 10,000%) and Marathon Holdings (up 16,000%) far outpaced Bitcoin's 1,100% gain from the March 2020 lows.

This week, key crypto companies are scheduled to report earnings, with Marathon and Hut 8 on Wednesday, and TeraWulf on Tuesday.

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Also Read: MARA Stock Surges 30% On Ohio Power Play Ahead Of Q3 Earnings

Shiller argues that crypto stocks provide easier access and liquidity for traditional finance investors, especially as U.S.-based crypto stocks may benefit from a more favorable regulatory environment. He mentioned that even with the introduction of spot Bitcoin ETFs, many institutions still prefer crypto stocks.

He also pointed out that stocks allow for diversified exposure to entire crypto ecosystems, not just Bitcoin, with additional options like leveraged positions and options trading.

The trader highlighted the shifting environment in the U.S., with a pro-crypto government potentially boosting the performance of U.S.-based crypto stocks. While his insights offer a compelling perspective, he advised investors to carefully assess their risk tolerance and perform their own research before diving into crypto stocks or coin.

He concluded his thread by providing technical analysis on several crypto stocks and emphasizing the different exposure methods that crypto stocks offer, including options trading.

What’s Next: Crypto-related stocks will be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

Read Next:

• Michael Saylor’s MicroStrategy Shares Hit 24-Year High, Jump Most Since Dot-Com Bubble As Bitcoin Nears $90K Mark For The First Time

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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

U.S. stocks traded mixed toward the end of trading, with the Nasdaq Composite falling more than 50 points on Monday.

The Dow traded up 0.76% to 44,324.99 while the NASDAQ fell 0.15% to 19,257.81. The S&P 500 also rose, gaining, 0.04% to 5,998.191.

Check This Out: Top 4 Health Care Stocks That May Plunge This Quarter

Leading and Lagging Sectors

Financials shares surged by 1.4% on Monday.

In trading on Monday, information technology shares fell by 1.3%.

Top Headline

Aramark reported better-than-expected fourth-quarter financial results and announced a $500 million share repurchase program. Also, the company approved a 11% increase to its quarterly dividend.

Revenue grew 5% year-over-year (Organic revenue: +7%) to $4.42 billion, missing the consensus of $4.46 billion. Adjusted EPS of 54 cents exceeded the consensus of 53 cents.

Aramark's Board of Directors approved an 11% increase in the quarterly dividend, raising it to 10.5 cents per share. The dividend will be payable on December 12, 2024, to stockholders of record as of December 2, 2024

Equities Trading UP

• CERo Therapeutics Holdings, Inc. shares shot up 122% to $0.1552 after the company announced the presentation of preclinical data demonstrating the capability of CER-1236 to kill ovarian cancer cells in preclinical models
• Shares of Canaan Inc. got a boost, surging 34% to $1.6915 after Bitcoin rose above $82,000.
• MARA Holdings, Inc. shares were also up, gaining 25% to $23.96 amid strength in Bitcoin.

Equities Trading DOWN

• 1847 Holdings LLC shares dropped 40% to $2.1600. 1847 Holdings signed a definitive agreement to acquire a cabinet, door & millwork manufacturer for $18.75 million.
• Shares of RAPT Therapeutics, Inc. were down 44% to $1.6250 after the company terminated its Zelnecirnon program following an FDA clinical hold due to a severe adverse event involving liver injury.
• Sapiens International Corporation N.V. was down, falling 26% to $29.25 after the company reported worse-than-expected third-quarter EPS and sales and lowered its FY24 revenue guidance.

Commodities

In commodity news, oil traded down 3.1% to $68.18 while gold traded down 2.8% at $2,619.40.

Silver traded down 2.6% to $30.620 on Monday, while copper fell 1.8% to $4.2270.

Euro zone

European shares closed higher today. The eurozone's STOXX 600 gained 1.13%, Germany's DAX gained 1.21% and France's CAC 40 gained 1.20%. Spain's IBEX 35 Index rose 0.40%, while London's FTSE 100 rose 0.65%.

The BNP Paribas Real Estate Construction PMI in Ireland rose to 49.4 in October versus 49.0 in September,

Asia Pacific Markets

Asian markets closed mostly higher on Monday, with Japan's Nikkei 225 gaining 0.08%, Hong Kong's Hang Seng Index falling 1.45%, China's Shanghai Composite Index gaining 0.51% and India's BSE Sensex gaining 0.01%.

China's annual inflation rate was 0.3% in October compared to September's reading of 0.4%, while producer prices declined by 2.9% year-over-year in October. China’s vehicle sales climbed by 7% year-over-year to 3.05 million units in October compared to a 1.7% decline in the prior month.

The gauge for Japan's service sector fell to 47.5 in October compared to a revised reading of 47.8 in the prior month, while Japan's current account surplus fell to JPY 1,717.1 billion in September from JPY 2,954.2 billion in the year-ago month.

Economics

No major economic reports are scheduled for released today.

Now Read This:

• Aramark, Live Nation Entertainment And 3 Stocks To Watch Heading Into Monday

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

U.S. stocks traded mixed midway through trading, with the Nasdaq Composite falling more than 50 points on Monday.

The Dow traded up 0.69% to 44,294.18 while the NASDAQ fell 0.36% to 19,217.22. The S&P 500 also fell, dropping, 0.04% to 5,993.15.

Check This Out: Top 4 Health Care Stocks That May Plunge This Quarter

Leading and Lagging Sectors

Financials shares surged by 1.5% on Monday.

In trading on Monday, information technology shares fell by 1.4%.

Top Headline

Shares of Monday.com Ltd fell around 16% on Monday after the company reported results for its third quarter.

The company reported fiscal third-quarter 2024 revenue growth of 33% Y/Y to $251.0 million, beating the analyst consensus estimate of $246.1 million. The project management software company’s adjusted EPS of 85 cents beat the analyst consensus estimate of 63 cents.

Monday.com raised 2024 revenue guidance to $964 million–$966 million (prior $956 million–$961 million) against the consensus of $960.2 million and an adjusted operating margin of 12%–13% (prior 10%-11%)

Equities Trading UP

• CERo Therapeutics Holdings, Inc. shares shot up 155% to $0.1770 after the company announced the presentation of preclinical data demonstrating the capability of CER-1236 to kill ovarian cancer cells in preclinical models
• Shares of Canaan Inc. got a boost, surging 35% to $1.7013 after Bitcoin rose above $82,000.
• MARA Holdings, Inc. shares were also up, gaining 25% to $24.06 amid strength in Bitcoin.

Equities Trading DOWN

• 1847 Holdings LLC shares dropped 38% to $2.2550. 1847 Holdings signed a definitive agreement to acquire a cabinet, door & millwork manufacturer for $18.75 million.
• Shares of RAPT Therapeutics, Inc. were down 45% to $1.5994 after the company terminated its Zelnecirnon program following an FDA clinical hold due to a severe adverse event involving liver injury.
• Sapiens International Corporation N.V. was down, falling 26% to $29.13 after the company reported worse-than-expected third-quarter EPS and sales and lowered its FY24 revenue guidance.

Commodities

In commodity news, oil traded down 3.2% to $68.10 while gold traded down 2.7% at $2,621.70.

Silver traded down 2.8% to $30.570 on Monday, while copper fell 1.3% to $4.2495.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 1.14%, Germany's DAX gained 1.28% and France's CAC 40 gained 1.16%. Spain's IBEX 35 Index rose 0.42%, while London's FTSE 100 rose 0.61%.

The BNP Paribas Real Estate Construction PMI in Ireland rose to 49.4 in October versus 49.0 in September,

Asia Pacific Markets

Asian markets closed mostly higher on Monday, with Japan's Nikkei 225 gaining 0.08%, Hong Kong's Hang Seng Index falling 1.45%, China's Shanghai Composite Index gaining 0.51% and India's BSE Sensex gaining 0.01%.

China's annual inflation rate was 0.3% in October compared to September's reading of 0.4%, while producer prices declined by 2.9% year-over-year in October. China’s vehicle sales climbed by 7% year-over-year to 3.05 million units in October compared to a 1.7% decline in the prior month.

The gauge for Japan's service sector fell to 47.5 in October compared to a revised reading of 47.8 in the prior month, while Japan's current account surplus fell to JPY 1,717.1 billion in September from JPY 2,954.2 billion in the year-ago month.

Economics

No major economic reports are scheduled for released today.

Now Read This:

• Aramark, Live Nation Entertainment And 3 Stocks To Watch Heading Into Monday

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Asian equities traded in the US as American depositary receipts opened the week tracking lower Monday morning, with the S&P Asia 50 ADR Index declining 0.62% to 2,078.12.

From North Asia, the gainers were led by tech company Canaan and automotive ecommerce platform Cango , which surged 36% and 12%, respectively. They were followed by online game developer The9 and ad agency iClick Interactive Asia Group , which climbed 8.8% and 7.8%, respectively.

The decliners from North Asia were led by media company Phoenix New Media and mobile big data platform Aurora Mobile , which fell 8.7% and 7.6%, respectively. They were followed by ecommerce fashion platform MOGU and semiconductor company Himax Technologies , which dropped 4.4% and 3%, respectively.

From South Asia, the only gainers were tech conglomerate Sea and IT firm Infosys , which were up 3% and 1%, respectively.

The decliners from South Asia were led by IT firm Sify Technologies and telecommunications operator Telekomunikasi Indonesia , which lost 2.2% and 1.4%, respectively. They were followed by pharmaceutical company Dr. Reddy's Laboratories and telecommunications operator PLDT , which were off 0.3% and 0.04%, respectively.