We recently compiled a list of the 10 Firms Suffer Steep Downfall on Monday. In this article, we are going to take a look at where MARA Holdings, Inc. (NASDAQ:MARA) stands against the other stocks.

Ten companies kicked off Monday’s trading in a bloodbath, mirroring the broader market pessimism, with valuations slashed by double digits mostly due to investor caution brought about by key economic uncertainties.

Wall Street’s main indices all fell in the red, with the tech-heavy Nasdaq recording the steepest downfall with 4 percent.

The S&P 500 declined by 2.7 percent, while the Dow Jones dropped by 2.08 percent.

We have identified the 10 worst-performing companies on Monday and detailed the reasons behind their drop.

To come up with the list, we considered only the stocks with $2 billion in market capitalization and $5 million in trading volume.

An aerial view of a bustling financial district, with skyscrapers and a large financial institution in the city center.

MARA Holdings, Inc. (NASDAQ:MARA)

MARA Holdings, Inc. (NASDAQ:MARA) fell by 16.29 percent on Monday to close at $13.41 apiece alongside its crypto mining firms, as investors sold off positions amid economic uncertainties from President Donald Trump’s government policies.

The decline was also in line with the drop in Bitcoin prices, which has already fallen by 27 percent to the $79,000 territory from the $109,000 peak when Trump returned to the White House.

MARA Holdings, Inc. (NASDAQ:MARA), a Bitcoin mining company, is currently one of the largest Bitcoin hoarders, with more than 44,000 Bitcoins in its holdings.

Over the past few weeks, MARA Holdings, Inc. (NASDAQ:MARA) has been riding the wave of volatility in the cryptocurrency industry, having earned Trump’s backing. However, traders hungry for more developments found the lack of more concrete plans disappointing.

Overall MARA ranks 5th on our list of Monday's worst performing stocks. While we acknowledge the potential of MARA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MARA but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

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Disclosure: None. This article is originally published at Insider Monkey.