MARA Stock Price Increased 24.8%: Why It Happened

By Amit Chowdhry ● January 7, 2021
  • The stock price of Marathon Patent Group Inc (NASDAQ: MARA) has increased by 24.8% as it went from a previous close of $13.59 to $16.96 on January 6. This is why it happened.

The stock price of cryptocurrency mining company Marathon Patent Group Inc (NASDAQ: MARA) has increased by 24.8% as it went from a previous close of $13.59 to $16.96 on January 6. One of the biggest triggers for the stock price increase has to do with the surge in cryptocurrency prices.

This past week, the price of Bitcoin increased over 30% and Dogecoin increased over 119%. Since Marathon Patent Group is associated with Bitcoin mining operations, it has been driving a lot of investor interest recently.

Marathon Patent Group is not the only Bitcoin mining company that saw its stock price jump on January 6. CleanSpark had jumped 27.68%. And Riot Blockchain increased 4.73% on January 6 and went up another 9.91% during after-hours.