Bit Digital, Inc. (BTBT) plunged 5.11% on Friday in the pre-market session, as the speculative bitcoin play stock experienced significant volatility.
The related news article highlights that BTBT is considered one of the market's most speculative stocks, particularly among companies focused on bitcoin and cryptocurrency. As a bitcoin mining company, BTBT's fortunes are closely tied to the volatile price movements of bitcoin and the overall cryptocurrency market.
According to the article, speculative stocks like BTBT tend to exhibit very high turnover ratios, indicating increased trading activity and price swings. These stocks, while offering potential for large gains, also carry substantial risks and are often driven by speculation and hype rather than fundamentals.
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