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How long will MARA stay down?

How long will MARA stay down?

Euclidian1

Don’t be fooled by the appearance the sellers would have you believe. Many of the big hedgers out there are buying a single bitcoin futures contract (5 coins)and then shorting a commensurate number of shares in MARA, RIOT, and a few others. they can keep the price down as long as it takes to frustrate people who bought at higher prices into selling at a loss. In fact that is the only criteria they have on the duration of their hedge. So the best you can do is to hang on and buy more while you wait for the newbies and the gullible and uninformed innocents to take their losses, Lick their wounds and move on.


chrish64

I see no reason why MARA cannot be at $175 when bitcoin hits 300k. That’s a conservative estimate.


Illustrious_Raccoon2

When you crunch the numbers, why is Mara not at 175$ now? Curtis Lucas did a video very recently showing Mara had a 1 year forward P/E ratio of 3 when it was about 40 dollars


chrish64

Because people are still assessing the company based on its prior history when it was not profitable.


Illustrious_Raccoon2

Yeah I suppose I have not looked it like that but it’s certainly possible that investors don’t fully trust the company. Also, hedge funds are shorting Mara and Riot as a way to hedge against being heavily leveraged on Bitcoin futures. Well that’s what I have read on Reddit, but it does sound plausible


chrish64

Well hopefully at some point there will be a huge short covering rally and the stock rockets.


Illustrious_Raccoon2

Indeed, there is always that possibility it doubles in a day and you don’t know when that day is going to come but you don’t want miss it. That’s why I am still invested in the stock currently at break even after over 2 frustrating months in it(my biggest position too).


chrish64

It will surprise the market and this in my opinion is like getting in pre IPO price.


[deleted]

I got in at $4 and it went to $2 the same week and stayed there for ages. Wasn’t worried then, not worried now.


MushroomHorror6521

Long term there’s a play here short term faces getting punched hard


epicM0rsix

anyone that is long on this has been on the same position before? i'm kinda new on this stock i got in at average $40 will this go back up?


xJesseD

Yes. Hold. I got in at $26. Saw it almost double a week a go, still didn’t sell. Long term gains my brother


Imnotfromheretho

Who cares? I knew I wouldn't be selling if it shot up to 100 anyways and I'm def not selling this entire year. Even my LEAPS are expiring 2022 June. We are going to need a quarter or two of returns after all their rigs are online to wake up the market.