Marathon Digital Holdings Inc (NASDAQ:MARA) shares are trading lower by 6.3% to $8.60 Wednesday afternoon. The stock is trading lower ahead of the company’s third-quarter earnings report, confirmed for Wednesday’s after-hours session. According to analyst consensus estimates, MARA is expected to report an EPS loss of 11 cents on revenue of $99.7 million.
Marathon shares may also be falling Wednesday in sympathy with peer Bitcoin miner Riot Platforms after the company reported worse-than-expected third-quarter financial results.
See Also: Marathon Digital Holdings Continues International Expansion
Cryptocurrency-related stocks are known for their high volatility. Negative news or events in the industry, such as a selloff in RIOT stock, can lead to significant price swings.
Investors might become more risk-averse and sell off related stocks, such as Marathon Digital Holdings, to limit their exposure to the sector’s volatility.
According to data from Benzinga Pro, MARA has a 52-week high of $19.88 and a 52-week low of $3.11.
