This Crypto Mining Stock Just Went Parabolic, Up 20% Today
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Some earnings beats are more influential than others, and this was clearly a case where investors were caught offsides.
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With year-over-year revenue growth of more than 100%, it’s clear that this stock could have been misjudged by many in the market.
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Here’s why I may have been wrong on this stock, and what investors are shifting their views quickly as well.
The overarching investment thesis surrounding cryptocurrency mining stocks, such as Canaan (NASDAQ: CAN), is shifting rapidly. Once viewed as leveraged pure-plays on the price appreciation potential of top tokens, such as Bitcoin, mining-related stocks like Canaan have since benefited from other key investment theses…
