Shares of TeraWulf Inc. (WULF), a leading cryptocurrency mining company, soared 5.06% on November 7, 2024, fueled by expectations of favorable policies for the crypto industry under the new Trump administration.
The stock rallied 23.5% in the last trading session, closing at $7.67, and touched a 52-week high of $7.68 on Wednesday. The surge can be attributed to notable trading volume, with a higher number of shares being traded compared to a typical session.
According to industry experts, the crypto sector is anticipating that Trump's administration will deregulate the industry and potentially enact legislation that allows for greater growth opportunities. This positive sentiment towards the crypto industry drove Bitcoin to a record high and boosted crypto-related stocks, including TeraWulf.
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