Is it Time to Dump BIT Mining Ltd - ADR (BTCM) Stock After it Has Fallen 15.65% in a Week?

The market has been neutral on BIT Mining Ltd - ADR (BTCM) stock recently. BTCM gets a Neutral score from InvestorsObserver Stock Sentiment Indicator.

BIT Mining Ltd - ADR has a Neutral sentiment reading. Find out what this means for you and get the rest of the rankings on BTCM!

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What is Stock Sentiment?

Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends. Sentiment is how investors, or the market, feels about a stock. There are lots of ways to measure sentiment. At the core, sentiment is pretty easy to understand. If a stock is going up, investors must be bullish, while if it is going down, sentiment is bearish. InvestorsObserver’s Sentiment Indicator looks at price trends over the past week and also considers changes in volume. Increasing volume can mean a trend is getting stronger, while decreasing volume can mean a trend is nearing a conclusion. For stocks that have options, our system also considers the balance between calls, which are often bets that the price will go up, and puts, which are frequently bets that the price will fall.

What's Happening With BTCM Stock Today?

BIT Mining Ltd - ADR (BTCM) stock is trading at $5.23 as of 10:55 AM on Friday, Dec 29, a drop of -$0.68, or -11.51% from the previous closing price of $5.91. The stock has traded between $5.23 and $6.26 so far today. Volume today is 268,045 compared to average volume of 298,678.

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.