MARA ($6.80) and RIOT ($8.92) Both hit highs yesterday after market. Linked to the price of bitcoin this is what I SUGGEST..
IF you believe bitcoin will hit $50000 by the end of next year like many experts project keep your shares.. If uncertain sell off a portion and maintain some.
Otherwise sell all and enjoy your profits and buy yourself a nice Christmas gift.
.
Personally, I sold my shares of RIOT and took half the money and bought more shares of Mara @ $6.36
I also sold all my Mara March $2.50 strike options and Kept all my June $4 strike options..
GOOD LUCK in whatever you decide to do
IF you believe bitcoin will hit $50000 by the end of next year like many experts project keep your shares.. If uncertain sell off a portion and maintain some.
Otherwise sell all and enjoy your profits and buy yourself a nice Christmas gift.
.
Personally, I sold my shares of RIOT and took half the money and bought more shares of Mara @ $6.36
I also sold all my Mara March $2.50 strike options and Kept all my June $4 strike options..
GOOD LUCK in whatever you decide to do
IF IS A BITCOIN MINING CO..
Bitcoin has dropped to $18000 from mid $19000's . since several financial services have decided to sell and accept it, it is probably not for a lack of trust. Right now the now there are so many stocks that are trading at all time highs , one guess would be investment reallocation. Also possible tax planning . Almost 100% gain this yr was over 100. So possible selling to offset market losses from the Covid crash for people who reallocated their investments back then.
For me it's a long term position , so I'm not looking at it super closely . I have sold covered calls and puts and if it I trading under four next month I will own another 1000 shares. If not I will sell the calls and puts again.
Bitcoin has dropped to $18000 from mid $19000's . since several financial services have decided to sell and accept it, it is probably not for a lack of trust. Right now the now there are so many stocks that are trading at all time highs , one guess would be investment reallocation. Also possible tax planning . Almost 100% gain this yr was over 100. So possible selling to offset market losses from the Covid crash for people who reallocated their investments back then.
For me it's a long term position , so I'm not looking at it super closely . I have sold covered calls and puts and if it I trading under four next month I will own another 1000 shares. If not I will sell the calls and puts again.
