Overall market sentiment has been down on BIT Mining Ltd - ADR (BTCM) stock lately. BTCM receives a Bearish rating from InvestorsObserver Stock Sentiment Indicator.
BIT Mining Ltd - ADR has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on BTCM!
When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment.
Recent trends are a good indicator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive.
InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend.
Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .
What's Happening With BTCM Stock Today?
BIT Mining Ltd - ADR (BTCM) stock is trading at $3.26 as of 10:45 AM on Friday, Jul 28, a gain of $0.02, or 0.62% from the previous closing price of $3.24. The stock has traded between $2.99 and $3.39 so far today. Volume today is low. So far 135,344 shares have traded compared to average volume of 252,633 shares.
To see InvestorsObserver's Sentiment Score for 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.
Share this article:
Stay In The Know
Subscribe to our daily morning update newsletter and never miss out on the need-to-know market news, movements, and more.
Thank you for signing up! You're all set to receive the Morning Update newsletter
