Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo
TipRanks 2022-05-17 16:20:52

Hut 8 Stock Got a Price Target Cut. But There Are Reasons to Be Bullish.

The performance of bitcoin mining companies is naturally closely correlated to the price of BTC. Given the current overall bearish trends of the crypto industry – bitcoin is down 35% year-to-date - it’s hardly surprising to see depressed share prices for public bitcoin miners. For example, shares of Hut 8 (HUT) have shaved off 66% of their value since the turn of the year. However, even in the face of the current difficult environment, following the company’s latest quarterly update, Canaccord analyst Joseph Vafi thinks Hut 8 is making all the right moves.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.