Marathon (NASDAQ: MARA) Stock Is Rising. Here’s Why

Marathon Patent Group, Inc. (NASDAQ: MARA) shares soared with a heavy volume after the company has disclosed the financial information in a new investor presentation it has released today. It has reported $24.6 million in cash and no debt on its balance sheet. It has also shared an overview of exclusive partnerships with Beowulf and Bitmain.

Furthermore, the company has reported that it has the potential to produce 15 to 20 Bitcoins per day at an average production cost of $3,863 per Bitcoin. MARA declared that it has the potential to generate $8.8 million in revenue per month and $6.7 million in gross profit per month.

Marathon Patent Group, Inc. (MARA) has seen some recent volatility in the marketplace and its shares were last quoted at $2.8900 yesterday. Investors are starting to take notice of MARA as the shares traded as high as $3.5100 and as low as $2.7800 on the last market day.

Marathon Patent Group, Inc. (MARA) average trading volume is 9.59M. However, on the last market day Marathon Patent Group, Inc. (MARA) traded 49,449,341 shares. The 1st downside support level on MARA is $2.71 and the 1st upside resistance level on MARA is $5.09. MARA 50day moving average is $2.3208 and MARA 200-day moving average is $1.8075.

Marathon Patent Group, Inc. (MARA) current performance has been specified by the recent movement in MARA shares. MARA has performed 17.48% over the past month, MARA has performed -11.62% over the past 3 months and MARA has shown 191.92% over the past 1 year. Marathon Patent Group, Inc. (MARA) has a 1 year range of $0.3500 to $5.2500. Marathon Patent Group, Inc. (MARA) is trading 720.56% from its 1 year low and -44.95% from its 1 year high. Marathon Patent Group, Inc. (MARA) is displaying a 24.46% short float displaying the amount short in the float.

MARA has 51.40M shares outstanding and 27.00M shares in the float. Marathon Patent Group, Inc. (MARA) presently has a market cap of $142.94M and an income of -5.10M. . The market cap of Marathon Patent Group, Inc. (MARA) at $142.94M represents how many Investors own shares of MARA and is based off the last price ($2.8900) of MARA and the amount of shares outstanding (51.40M) with Marathon Patent Group, Inc. (MARA).

Marathon Patent Group, Inc. (MARA) has total cash (mrq) of 17.25M, total cash per share (mrq) of 0.33, total debt of MARA stands at 200.06k and total debt/equity (mrq) is 0.55. . Marathon Patent Group, Inc. (MARA) operational cash flow (ttm) is -4.57M, MARA leveraged free cash flow (ttm) is -32.51M.

MARA is trading 17.37% above (bullish) its SMA20, 31.13% above (bullish) its SMA50 and 97.18% above (bullish) its SMA200.

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