The market has been neutral on BIT Mining Ltd – ADR (BTCM) stock recently. BTCM gets a Neutral score from InvestorsObserver Stock Sentiment Indicator.
What is Stock Sentiment?
Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score.
As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend.
Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.InvestorsObserver‘s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.
The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.
What’s Happening With BTCM Stock Today?
BIT Mining Ltd – ADR (BTCM) stock is up 5.61% while the S&P 500 has fallen -0.98% as of 10:51 AM on Friday, Mar 17. BTCM is higher by $0.13 from the previous closing price of $2.26 on volume of 104,322 shares. Over the past year the S&P 500 has fallen -10.02% while BTCM has fallen -91.43%. BTCM lost -$19.47 per share in the over the last 12 months.To screen for more stocks like BIT Mining Ltd – ADR click here.
More About BIT Mining Ltd – ADR
BIT Mining Ltd is a cryptocurrency mining company, with a long-term strategy to encompass the whole cryptocurrency value chain. Its business covers cryptocurrency mining, mining pool, data center operation and mining machine manufacturing. The company has significant and growing deployed Bitcoin mining machine capacity, owns three hydroelectric cryptocurrency mines with combined power capacity of 435MW and the entire mining pool business operated under BTC.com, including the domain name and wallet. It has also entered into a definitive agreement to acquire a 7 nanometer cryptocurrency mining machine manufacturer “Bee Computing”, completing its vertical integration, making self-sufficient while also strengthening competitive position. Click Here to get the full Stock Report for BIT Mining Ltd – ADR stock.