Cipher Mining Inc.’s (NASDAQ:CIFR) Share Price Is Still Matching Investor Opinion Despite 30% Slump
To the annoyance of some shareholders, Cipher Mining Inc. (NASDAQ:CIFR) shares are down a considerable 30% in the last month, which continues a horrid run for the company. Instead of being rewarded, shareholders who have already held through the last twelve months are now sitting on a 47% share price drop.
Although its price has dipped substantially, Cipher Mining may still be sending sell signals at present with a price-to-sales (or “P/S”) ratio of 5.3x, when you consider almost half of the companies in the Software industry in the United States have P/S ratios under 4.1x and even P/S lower than 1.7x aren’t out of the ordinary. Although, it’s not wise to just take the P/S at face value as there may be an explanation why it’s…
