MARA Holdings Option Alert: Mar 28 $12.5 Calls at the Bid: 29955 vs 2890 OI; Earnings 5/8 After Close [est] 

MARA Holdings Option Alert: Mar 28 $12.5 Calls at the Bid: 29955 @ $0.34 vs 2890 OI; Earnings 5/8 After Close [est] Ref=$12.135

MARA Holdings Option Alert: Jan 16 $5 Puts at the Ask: 10000 vs 18319 OI; Earnings 5/8 After Close [est] 

MARA Holdings Option Alert: Jan 16 $5 Puts at the Ask: 10000 @ $0.63 vs 18319 OI; Earnings 5/8 After Close [est] Ref=$12.37

MARA Holdings (NASDAQ:MARA) Stock

MARA HOLDINGS INC

MARA Holdings

Marathon Digital Holdings

MARA Holdings Inc leverages digital asset compute to support the energy transformation. It secures the blockchain ledger and supports the energy transformation by converting clean, stranded, or underutilized energy into economic value. The company also offers technology solutions to optimize data center operations, including next-generation liquid immersion cooling and firmware for bitcoin miners. It is focused on computing for, acquiring, and holding digital assets as a long-term investment.

MARA Holdings Inc

Marani Brands Inc

Marathon Bancorp Inc

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MARATHON GROUP CORP by Marathon Group Corp.

Marathon Group Corp

Marathon Oil Corp. Com

Marathon Petroleum Corporation Common Stock

Marathon Petroleum Corp

Maravai LifeSciences Holdings, Inc. - Class A common stock

Maravai LifeSciences Holdings Inc

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) treasury companies like Michael Saylor&#8216;s Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) (formerly MicroStrategy) were in focus as Brett Winton, the chief futurist at ARK Investment Management LLC, highlighted that trouble could be brewing for such companies in the long run.
What Happened: As companies like MSTR have been issuing equity and debt to raise funds for Bitcoin purchases, Winton underscored that funding purchases with debt &#8220;seems like a recipe for disaster on the back end of this cycle.&#8221;
According to him, if the treasury companies keep doing so, &#8220;a higher debt mix&#8221; will &#8220;be the seed that grows to destroy the business-less business model.&#8221;
He explains this by highlighting the presence of an arbitrage opportunity till the time the stock prices for companies like MSTR are trading at a premium to the net asset value (NAV).
As of its May 12 SEC filing, MSTR held 568,840 Bitcoins at an aggregate purchase price of $39.41 billion, whereas its market capitalization stood at a staggering $108.55 billion.
Thus, Winton implied that BTC treasury companies could keep issuing equity until the arbitrage opportunity closes. &#8220;Competitors are now launching/raising will accelerate that process,&#8221; he said in his X post.
However, as the equity to NAV gap closes, the companies will shift to debt for funding their BTC purchases, thus concocting the &#8220;recipe for disaster,&#8221; as underscored by Winton.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">though so-called bitcoin treasury companies don&#39;t make sense, but so long as they are trading at a NAV premium to the underlying holdings they should continue to sell equity and buy bitcoin until they arbitrage out the opportunity. That &quot;competitors&quot; are now launching/raising…
&mdash; Brett Winton (@wintonARK) <a href="https://twitter.com/wintonARK/status/1923310593592926619?ref_src=twsrc%5Etfw">May 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/general/market-summary/25/05/45399940/warren-buffett-shows-how-patience-pays-98-of-his-160-billion-wealth-came-after-turning-65-thanks-the-power-of-compound-interest">Warren Buffett Shows How Patience Pays: 98% Of His $160 Billion Wealth Came After Turning 65, Thanks The Power Of &#8216;Compound Interest&#8217;</a>
Why It Matters: While MSTR is the largest BTC treasury company that has issues both equity and debt to purchase Bitcoins, Ryan Cohen&#8216;s GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) has recently announced its <a href="https://www.benzinga.com/general/market-summary/25/03/44511612/gamestop-follows-mstrs-footsteps-why-will-investors-buy-convertible-notes-with-no-interest">plans to join MSTR&#8217;s ranks</a>.
MARA Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>), Cantor Equity Partners Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEP#NASDAQ">CEP</a>), Riot Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>), and Galaxy Digital Holdings Ltd. (TSE: GLXY) follow MSTR in having the highest number of Bitcoins as a part of their assets.
Meanwhile, other experts think that Bitcoin prices are poised to rise. Citing Tom Lee, the head of research at Fundstrat, the Moon Show highlighted on X Friday the potential for Bitcoin&#8217;s network value to <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45463966/tom-lee-predicts-bitcoin-will-hit-1-5-million-in-10-years-calls-it-a-swiss-army-knife-of-money">equal that of gold</a>. 
Lee argued that Bitcoin&#8217;s versatility, acting as a risk-on asset in bull markets, combined with growing adoption, fuels network value and price appreciation.
Price Action: Shares of MSTR fell 4.73% on Thursday and rose 1.03% in premarket on Friday. The stock was up 32.34% on a year-to-date basis, and 175.72% higher over a year.
Benzinga Edge Stock Rankings shows that MSTR had a stronger price trend over the short, medium, and long term. Its momentum ranking was solid at the 97.50th percentile, while the value ranking was very poor. You can check the details of other metrics <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">over here</a>. 
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="148" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16075705/EDGE-MSTR-1024x148.png" alt="" class="wp-image-917803" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16075705/EDGE-MSTR-1024x148.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16075705/EDGE-MSTR-300x43.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16075705/EDGE-MSTR-768x111.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16075705/EDGE-MSTR.png 1224w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were higher in premarket on Friday. The SPY was up 0.29% to $592.20, while the QQQ advanced 0.34% to $521.01, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
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RIOT

Ark Invest Expert Takes Swipe At MSTR, MARA, Says 'Bitcoin Treasury Companies Don't Make Sense:' 'Funding Purchases With Debt...Seems Like A Recipe For Disaster'

Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) executive chairman, Michael Saylor, says the company, formerly known as MicroStrategy, could survive a brutal crypto winter, but its shareholders wouldn&#8217;t be too happy about it.
What Happened: In a new Financial Times <a href="https://www.ft.com/video/4d1a1666-20d4-4930-ab80-eda742640f16">film</a> and subsequent interviews, Saylor warned that if Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) "fell 90 per cent and stayed there for four or five years, we would still be stable," yet equity investors "would suffer because they're levered."
The alert comes as MicroStrategy — already the world's largest corporate holder of the token at <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45349057/strategy-buys-134b-in-bitcoin-at-99856-cites-155-btc-yield">568,840 BTC</a> worth about $59 billion — keeps piling on debt and preferred-stock financings to buy more.
Saylor's endgame is simple. "Whoever gets the most bitcoin wins. There is no other endgame," he told Yahoo Finance in a separate <a href="https://finance.yahoo.com/news/michael-saylor-is-never-selling-microstrategys-bitcoin-100028211.html?guccounter=1&amp;guce_referrer=aHR0cHM6Ly9mb3J0dW5lLmNvbS8&amp;guce_referrer_sig=AQAAAA0_cDmg_yzUnWkCMGRMws58uA4m5pNkrk4-fuSqVHXxJeAqApmq-qjKyHiettjO_4mfIipQjgHmdG2p97lFQnQfbvQQg0dLC4Tgwo-eU1W42llt5dsynyG1hJipd6xQTyFtZKKAI45R8vcaavU9Jl8y8caZOu2-ZCAa2-MKJf6W">sit-down</a>. To keep buying, MicroStrategy sold $580 million of dividend-paying <a href="https://www.barrons.com/articles/microstrategy-preferred-stock-yield-bb1b45ef">preferred shares</a> in January and another perpetual-preferred slug in March — cash it can deploy straight into crypto.
The balance sheet now holds just $60.3 million in cash against tens of billions in digital assets, its latest 10-Q shows. Former Bank of America ECM chief Craig Coben tells FT that Strategy&#8217;s focus on "new money" raises "questions about the sustainability" of the bet if prices crater.
See also: <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45417306/michael-saylors-bitcoin-strategy-infinite-money-glitch-or-a-reflexive-leverage-bet">Michael Saylor&#8217;s Bitcoin Strategy—&#8217;Infinite Money Glitch&#8217; Or A Reflexive Leverage Bet?</a>
Saylor shrugs at the skeptics, even <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/44044388/michael-saylor-says-sell-a-kidney-but-keep-the-bitcoin-but-mstr-is-down-28-since-he-appeared-on-the-cover-of-forbes">trolling them</a> on X: "Sell a kidney if you must, but keep the Bitcoin." But Saylor's own warning shows just how thin the ice could get if the next crypto winter proves deeper and longer than the last.
Top 3 Bitcoin-Holding Public Companies
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Company Name</td>
<td>Amount Of BTC Held</td>
<td>Value In U.S. Dollars</td>
</tr>
<tr>
<td>MicroStrategy</td>
<td>568,840 BTC</td>
<td>59.16 billion</td>
</tr>
<tr>
<td>Marathon Digital</td>
<td>46,374 BTC</td>
<td>4.82 billion</td>
</tr>
<tr>
<td>Riot Platforms</td>
<td>18,692 BTC</td>
<td>1.94 billion</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Source: Coingecko.</figcaption></figure>
Why It Matters: Economist Peter Schiff, a fierce critic of all things Bitcoin, has consistently questioned Strategy's Bitcoin playbook, recently predicted &#8220;<a href="https://www.benzinga.com/markets/25/05/45426766/peter-schiff-predicts-fireworks-says-michael-saylors-strategy-will-see-unrealized-loss-during-bitcoi">fireworks</a>&#8221; if Bitcoin were to drop in value. Schiff stated that a significant BTC slump could soon even push MSTR "into the red."
That said, JPMorgan analysts expect <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45444794/bitcoin-is-starting-to-outperform-gold-jpmorgan">continued Bitcoin upside</a> into late 2025, driven by sector-specific momentum and weakening gold sentiment. Major U.S. exchanges like Coinbase, Kraken, and Gemini are expanding regulated crypto derivatives offerings to institutional investors, all adding to the crypto king&#8217;s momentum.
Price Action: Shares of MicroStrategy closed 4.73% lower at $397.03 on Thursday. The stock has gained 32.34% since the beginning of 2025, <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">according to data from Benzinga Pro</a>.
Benzinga Edge Stock Rankings indicate that Strategy has a Momentum in the 97th percentile. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/?adType=quotepage&amp;campaign=ranking&amp;ad=rankingv1">Click here</a> to see how rivals like Coinbase stack up in comparison.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/?adType=quotepage&amp;campaign=ranking&amp;ad=rankingv1"><img loading="lazy" decoding="async" width="1024" height="148" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16013122/mstr-edge-1024x148.png" alt="" class="wp-image-917437" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16013122/mstr-edge-1024x148.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16013122/mstr-edge-300x43.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16013122/mstr-edge-768x111.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16013122/mstr-edge-1536x222.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16013122/mstr-edge.png 1620w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Photo Courtesy: Bukhta Yurii On Shutterstock.com
Read next: <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45449661/eric-trump-bitcoin-accumulation-is-a-race-to-the-top">Eric Trump: Bitcoin Accumulation Is &#8216;A Race To The Top&#8217;</a>

Michael Saylor Says Strategy Inc. Shareholders Could 'Suffer' If Bitcoin Plunges 90% For Half A Decade, But Reveals A Winning Endgame

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Core Scientific, Inc. - Class A Common Stock

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Shares of crypto-linked stocks and Bitcoin miners are trading higher amid strength in Bitcoin.

Barclays analyst Ramsey El-Assal maintains MARA Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) with a Equal-Weight and raises the price target from $14 to $16.

Price Target

Barclays Maintains Equal-Weight on MARA Holdings, Raises Price Target to $16

This week brought a flurry of activity to the cryptocurrency market. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) breached the $100,000 milestone, while Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) also saw significant gains. Meanwhile, former White House Communications Director Anthony Scaramucci shared his thoughts on President Donald Trump&#8216;s foray into the crypto world, and Dogecoin hinted at a potential trend reversal. Here&#8217;s a closer look at these stories.
Bitcoin Nears $104,000 &#8211; The cryptocurrency market experienced a sharp rally on Thursday following a trade deal between the Trump administration and the United Kingdom. Bitcoin, the leading cryptocurrency, nearly hit $104,000 in a volatile trading session, marking a significant increase from its three-month wait at the $100,000 milestone. Trading volume for the cryptocurrency also rose by 59% in the last 24 hours. <a href="https://www.benzinga.com/25/05/45308288/bitcoin-closing-in-on-104000-ethereum-dogecoin-rally-on-trade-deal-optimism-analytics-firm-highlights-the-double-edged-sword-amid-bullish-sentiment">Read the full article here.</a>
Scaramucci Grades Trump&#8217;s Crypto Moves &#8211; Anthony Scaramucci, former White House Communications Director, expressed concern over President Trump&#8217;s increasing involvement in the cryptocurrency industry. Speaking at the Financial Times Digital Asset Summit, Scaramucci criticized Trump-related crypto ventures, including a Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based meme coin and a stablecoin backed by his son Eric Trump, as potential distractions that could hinder the development of sound digital asset policies. <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45253032/anthony-scaramucci-gives-donald-trump-b-or-a-on-crypto-but-warns-presidential-meme-coin-de">Read the full article here.</a>
See Also: <a href="https://benzinga.com/markets/cryptocurrency/25/05/45282706/bitcoin-close-to-100000-ethereum-xrp-dogecoin-pump-as-trump-touts-trade-deal-with-the-uk" target="_blank" rel="noreferrer noopener">Bitcoin Close To $100,000, Ethereum, XRP, Dogecoin Pump As Trump Touts Trade Deal With The UK &#8211; Benzinga</a>
Dogecoin Teases Trend Reversal &#8211; After a period of relatively quiet price action, Dogecoin may be preparing for a trend reversal. Crypto trader Trader Tardigrade identified a potential &#8220;Diamond Bottom&#8221; pattern on the daily chart, a classic signal of a downtrend ending and an uptrend beginning. <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45233324/dogecoin-teases-diamond-bottom-reversal-is-a-breakout-imminent">Read the full article here.</a>
MARA Holdings Reports Drop in Bitcoin Production &#8211; Shares of MARA Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) traded lower after the company reported a 15% month-over-month decrease in Bitcoin mining in April. The company mined 705 Bitcoin in April, down from 829 in March and slightly lower than the 706 Bitcoin produced in February. <a href="https://www.benzinga.com/25/05/45193859/mara-holdings-says-bitcoin-production-fell-15-last-month-shares-move-lower-with-earnings-on-the-horizon-whats-going-on">Read the full article here.</a>
Buffett&#8217;s Berkshire vs. Bitcoin &#8211; Warren Buffett, who recently announced his retirement as CEO of Berkshire Hathaway Inc., has built a significant investment legacy over the years. However, Bitcoin, the asset he once referred to as &#8216;rat poison,&#8217; has delivered returns at a faster rate than Berkshire Hathaway since its listing. <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45280752/warren-buffetts-berkshire-delivered-a-16000-gain-since-listing-but-bitcoin-the-asset-he-called-rat-poison-turned-pennies-into-fortunes-faster">Read the full article here.</a>
Read Next: <a href="https://benzinga.com/markets/cryptocurrency/25/05/45316050/bitcoin-ethereum-xrp-dogecoin-lead-crypto-rally" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, XRP, Dogecoin Continue Surging &#8211; Benzinga</a>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

$DOGE

$ETH

$SOL

Anthony Scaramucci On Trump's Crypto Moves, Bitcoin Nears $104K And More: This Week In Crypto

Marathon Digital shares are trading higher despite a Q1 earnings miss.

MARA Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) and CleanSpark, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLSK#NASDAQ">CLSK</a>) shares are trading volatile on Friday amid worse-than-expected financial results on Thursday after <a href="https://www.benzinga.com//node/45303574">the market closed.</a>
What To Know: MARA reported a loss of $1.55 per share, missing the consensus estimate of a 4 cent-gain. In addition, it reported sales of $213.88 million, missing the consensus estimate of $221.64 million.
Furthermore, the company reported it mined 2,286 Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and purchased 340 Bitcoin. Additionally, the company&#8217;s energized hashrate (EH/s) increased 95% year-over-year.
CleanSpark reported a loss of 49 cents per share, missing the consensus estimate of an 8 cent-loss. The company also reported sales of $181.71 million, missing the consensus estimate of $190.95 million.
The company ended the quarter with $97 million in cash and $979.6 million in Bitcoin holdings. Its total mining assets were valued at $899.6 million.
&#8220;This was a quarter defined by discipline, scale, and continued strategic clarity,&#8221; said&nbsp;Zach Bradford, CleanSpark&#8217;s CEO.
&#8220;As other players shift direction or decelerate growth, CleanSpark has doubled down on being the only remaining pure-play, public&nbsp;bitcoin&nbsp;miner. We believe that focus matters now more than ever, and we remain on track to reach our 50 EH/s target during June, all while growing our&nbsp;bitcoin&nbsp;treasury, strengthening the balance sheet, and prioritizing long-term stockholder value.&#8221;
Related Link: <a href="https://www.benzinga.com/25/05/45313865/held-for-sale-restaurant-brands-international-moves-swiftly-to-exit-burger-king-china-citing-peak-complexity-and-drag-on-finances">&#8216;Held For Sale&#8217;: Restaurant Brands International Moves Swiftly To Exit Burger King China, Citing Peak Complexity And Drag On Finances</a>
Price Action: At the time of publication, MARA shares are trading 2.43% higher at $14.66 and CleanSpark stock is trading 0.59% lower at $8.63, per data from <a href="https://www.benzinga.com/pro/login">Benzinga Pro.</a>
Image: via Shutterstock

Movers

MARA And CleanSpark Stocks Surge Friday: What's Going On?

MARA Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) reported its first-quarter results Thursday.
 Here are some key analyst takeaways.
HC Wainwright On MARA Holdings
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58d94a96b85e930001fd9dd4/kevin-dede">Analyst Kevin Dede</a> maintained a Buy rating and price target of $28.
MARA Holdings reported its March quarter results broadly within expectations, Dede said in a note. The company's revenues came in at $213.9 million, almost flat with the previous quarter's results, he added.
Shares nosedived during the first three months of 2025 due to a downturn in Bitcoin prices, resulting in "negative price adjustment on the order of $510M," the analyst stated. However, with bitcoin reaching $103,000 on Thursday and, if this price holds through the end of June, "we would expect those losses to be replaced by gains of a greater magnitude," he wrote.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
Needham On MARA Holdings
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/61f3ddfca8bef8000120d89f/john-todaro">Analyst John Todaro</a> reiterated a Hold rating on the stock.
MARA Holdings reported its adjusted EBITDA was short of expectations due to "higher mining costs and SG&amp;A," Todaro said. He added, however, that the company doubled its hash rate year-on-year to 54 EH by the end of the first quarter, "with momentum continuing into April."
The analyst stated that MARA has become the largest miner by hash rate and bitcoin treasury. "We like the strategy of continual vertical integration, which lowers MARA&#8217;s average portfolio costs," he further wrote.
MARA  Price Action: At the time of publication on Friday, shares of MARA Holdings had risen by 12.22% to $16.04.
Read More: <a href="https://www.benzinga.com/news/earnings/25/05/45310629/mara-ceo-fred-thiel-underscores-companys-twin-turbocharge-strategy-of-bitcoin-hodl-and-mining-you-see-the-benefit-of-both-the-sides">MARA CEO Fred Thiel Underscores Company&#8217;s &#8216;Twin Turbocharge Strategy&#8217; Of Bitcoin HODL And Mining: &#8216;You See The Benefit Of Both The Sides&#8217;</a>
Photo: Shutterstock

Earnings Misses

MARA Holdings' Q1 Results Fail To Excite, Yet Bitcoin Touching $103K Could Turn Losses To Gains

MARA Holdings Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) CEO Fred Thiel reiterated the company&#8217;s commitment to its Bitcoin holding strategy on Thursday, emphasizing the potential benefits for its stockholders.
What Happened: During the first quarter earnings call, Thiel said MARA held a &#8220;distinguishing&#8221; position in the market, allowing shareholders to gain from its Bitcoin HODL play as well as pure-play mining activities. 
&#8220;What MARA is doing is a twin turbocharge strategy,&#8221; Thiel said. &#8220;And then when you drive a twin turbo engine, you see the benefit of both the sides.&#8221;
Thiel also noted that the decision to pivot to a &#8220;full HODL&#8221; strategy was based on careful market conditions and macroeconomic factors analysis, which he believed would yield long-term benefits for MARA stockholders.
&#8220;So I think we&#8217;re going to continue to see things move up in Bitcoin longer term, which is why we are still in very much a full HODL position,&#8221; he added.
See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/22/12/30062542/tether-enables-binance-to-convert-3b-usdt-from-tron-to-ethereum" target="_blank" rel="noreferrer noopener">Tether Enables Binance To Convert 3B USDT From Tron To Ethereum</a>
Why It Matters: MARA adopted a&nbsp;<a href="https://www.benzinga.com/news/earnings/25/05/45303574/mara-holdings-stock-dips-after-worse-than-expected-q1-report">buy-and-hold strategy</a> in July of 2024, retaining all Bitcoin it mines and periodically making strategic open market purchases. In March, the firm revealed plans to raise up to <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44558783/mara-holdings-joins-gamestop-metaplanet-in-bitcoin-reserve-push-with-2-billion-stock-sale">$2 billion&nbsp;through a stock offering</a> to expand its Bitcoin treasury.
As of this writing, MARA was the second-largest corporate holder of Bitcoin, amassing a stockpile of 48,237 BTC, worth $4.97 billion, <a href="https://bitcointreasuries.net/">according </a>to Bitcointreasuries.net. Michael Saylor&#8217;s Strategy Inc. (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) remains the market leader, having over $57 billion in Bitcoin.
MARA reported&nbsp;<a href="https://www.benzinga.com/news/earnings/25/05/45303574/mara-holdings-stock-dips-after-worse-than-expected-q1-report">worse-than-expected first-quarter</a> financials after market close, with revenue and earnings missing analyst estimates. 
Price Action:&nbsp; At the time of writing, Bitcoin was exchanging hands at $103,197.90, up 4.22% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Shares of MARA dipped 1.82% in after-hours trading after closing 7.20% higher during Thursday&#8217;s regular session.
MSTR reported low momentum and growth scores as of this writing. To find out how Strategy and other Bitcoin-holding firms stack up on these parameters, visit <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge Stock Rankings</a>.
Photo Courtesy: OlegD On Shutterstock.com
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45277600/trumps-crypto-policy-like-a-large-buffet-says-anthony-scaramucci-you-have-to-eat-everything-at-the-table">Anthony Scaramucci Compares Trump&#8217;s Crypto Policy To Mar-A-Lago Buffet: &#8216;You Have To Eat Everything At The Table&#8217;</a></li>
</ul>

Earnings

MARA CEO Fred Thiel Underscores Company's 'Twin Turbocharge Strategy' Of Bitcoin HODL And Mining: 'You See The Benefit Of Both The Sides'

Mara Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) released its first-quarter results after Thursday's closing bell. Here's a look at the key <a href="https://www.benzinga.com/pressreleases/25/05/g45299384/mara-announces-first-quarter-2025-results">figures in the report.&nbsp;</a>
The Details:&nbsp;Mara reported quarterly losses of $1.55 per share, which missed the analyst consensus estimate of losses of four cents. Quarterly revenue came in at $213.88 million, which missed the Street estimate of $221.64 million.
Read Next: <a href="https://www.benzinga.com/news/earnings/25/05/45292652/thursdays-top-5-trending-stocks-whats-going-on-with-d-wave-novavax-carvana?utm_source=articleShare">Thursday&#8217;s Top 5 Trending Stocks: What&#8217;s Going On With D-Wave, Novavax, Carvana?</a>
For the first quarter, Mara reported:
<ul>
<li>Mined 2,286 Bitcoin and purchased 340 Bitcoin.</li>
<li>Purchased energy cost per Bitcoin: $35,728 and cost per kWh: four cents.</li>
<li>Total blocks won increased 81% year-over-year to 666. </li>
<li>Energized hashrate (EH/s) increased 95% year-over-year. </li>
<li>Cost/petahash per day improved by 25% year-over-year. </li>
</ul>
&#8220;While we remain focused on Bitcoin mining, our infrastructure is already aligned with the next wave of compute demand, which we extensively covered in our prior letter. We're positioning MARA to support AI inference workloads — which require low latency, have unpredictable energy demands, and are spread out geographically — and we are in advanced discussions with several compute OEMs to roll out pilot deployments this year. We believe our immersion-cooled, modular data centers are well-suited to address the needs of this emerging trend,&#8221; Mara CEO Fred Thiel wrote in <a href="https://d1io3yog0oux5.cloudfront.net/_b03e683ac88e23eb57d4515f27f682e5/marathondh/db/441/7542/file/Q1%2725+Shareholder+Letter.pdf">a letter </a>to shareholders.
MARA Price Action: According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Mara stock was down 1.68% at $14.05 after-hours Thursday.&nbsp;&nbsp;
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/general/travel/25/05/45260938/disneys-new-abu-dhabi-theme-park-will-be-authentically-disney-and-distinctly-emirati-ceo-bob-iger-says?utm_source=articleShare">Disney&#8217;s New Abu Dhabi Theme Park Will Be &#8216;Authentically Disney And Distinctly Emirati,&#8217; CEO Bob Iger Says&nbsp;</a></li>
</ul>
Image: Shutterstock

After-Hours Center

Mara Holdings Stock Dips After Worse-Than-Expected Q1 Report

Marathon Digital Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) reported quarterly losses of $(1.55) per share which missed the analyst consensus estimate of $0.04 by 3975 percent. This is a 223.02 percent decrease over earnings of $1.26 per share from the same period last year. The company reported quarterly sales of $213.88 million which missed the analyst consensus estimate of $221.64 million by 3.50 percent. This is a 29.47 percent increase over sales of $165.20 million the same period last year.

Marathon Digital Holdings Q1 EPS $(1.55) Misses $0.04 Estimate, Sales $213.88M Miss $221.64M Estimate

COIN

Shares of crypto-linked stocks and Bitcoin miners are trading higher after Bitcoin reached above $100,000.

As Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) and MARA Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) prepare to <a href="https://www.benzinga.com/earnings" target="_blank" rel="noopener">report their earnings</a> beats—or blunders—after the bell Thursday, investors are scanning the charts like hawks.
But only one of these Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and crypto-tied tickers is flashing bullish vibes. Let&#8217;s break it down.
<h2 class="wp-block-heading">COIN: Riding The Moving Average Tightrope</h2>
Coinbase, the blue-chip of crypto brokers, has climbed 29.8% in the past month &#8211; but don't let that pop fool you. Despite analysts from Citi, JPMorgan and Rosenblatt touting a $268.67 average price target (a healthy 30% upside), the technicals are caught in a tug-of-war.
Read Also: <a href="https://www.benzinga.com/25/05/45265214/coinbase-q1-earnings-preview-trump-inauguration-bitcoin-surge-and-more-items-to-watch">Coinbase Q1 Earnings Preview: Trump Inauguration, Bitcoin Surge And More Items To Watch</a>
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0508"><img loading="lazy" decoding="async" width="633" height="488" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/08065445/Screenshot-2025-05-08-at-4.24.18-PM.png" alt="" class="wp-image-907674" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/08065445/Screenshot-2025-05-08-at-4.24.18-PM.png 633w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/08065445/Screenshot-2025-05-08-at-4.24.18-PM-300x231.png 300w" sizes="(max-width: 633px) 100vw, 633px" /></a></figure>
<a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0508">Chart created using Benzinga Pro</a>
Trading at $196.56, COIN stock is below its eight-day simple moving average (SMA) of $201.67 (bearish) but above both its 20-day ($190.41) and 50-day ($190.29) SMAs &#8211; those scream bullish. Unfortunately, the long-term 200-day SMA is still way up at $225.82, suggesting COIN stock has work to do.
The MACD (moving average convergence/divergence) indicator, at 3.43, leans bullish, and the stock&#8217;s RSI (relative strength index) of 52.22 doesn't indicate overheating.
So what gives? The chart is a bit indecisive. Call it crypto's version of a mood swing.
<h2 class="wp-block-heading">MARA: A Quiet Rally Beneath Bearish Clouds</h2>
Meanwhile, MARA stock has had a rougher year, down 33.7% in the past 12 months. But in the past month, it&#8217;s surged 26.7%, and the technicals hint at something brewing.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0508"><img loading="lazy" decoding="async" width="633" height="488" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/08065742/Screenshot-2025-05-08-at-4.24.27-PM.png" alt="" class="wp-image-907678" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/08065742/Screenshot-2025-05-08-at-4.24.27-PM.png 633w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/08065742/Screenshot-2025-05-08-at-4.24.27-PM-300x231.png 300w" sizes="(max-width: 633px) 100vw, 633px" /></a></figure>
<a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0508">Chart created using Benzinga Pro</a>
At $13.33 per share, MARA stock is below its eight-day SMA (bearish) but just above its 20-day ($13.28) and 50-day ($13.11) SMAs—both bullish. Like COIN, MARA lags its 200-day SMA ($17.18), so the long-term picture still has scars.
Here's where things get interesting: The MACD is positive 0.16, and the RSI at 49.94 shows it's sitting in the sweet spot of neutrality. Not too hot, not too cold &#8211; just ready for a catalyst.
Analysts are slightly more giddy here, with Compass Point, Piper Sandler and HC Wainwright pegging the stock for a $20.17 price target. That's a juicy 43.6% upside from today's levels.
<h2 class="wp-block-heading">The Verdict: MARA Has The Chart Edge</h2>
COIN might have the bigger brand and better fundamentals, but on the charts, MARA looks like the underdog with an upside. It&#8217;s showing more bullish signals with a more substantial implied return from analyst targets. Plus, it's got that silent grind upward that sometimes precedes a breakout.
With earnings looming, both stocks could rewrite their technical stories in a flash. But for now? Chalk one up for the miner.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/05/45193859/mara-holdings-says-bitcoin-production-fell-15-last-month-shares-move-lower-with-earnings-on-the-horizon-whats-going-on">MARA Holdings Says Bitcoin Production Fell 15% Last Month, Shares Move Lower With Earnings On The Horizon: What&#8217;s Going On?</a></li>
</ul>
Photo: Shutterstock

Technicals

Previews

Tech

Trading Ideas

COIN Vs. MARA: Which Crypto Stock Chart Has The Bullish Edge Before Q1 Earnings Drop?

AAOI

ABCL

ABEV

ACIC

ACIW

ACMR

ACTG

AFRM

AKAM

AKBA

ALGM

ALIT

ALRM

ALXO

Amplify YieldShares Oil Hedged MLP Income ETF

AMLX

AMPX

AMTX

APPN

APYX

AQMS

ARGX

ARHS

ARKO

ARLO

ASPN

ASTH

Adtalem Global Education Inc. Common Stock

ATGE

ATHM

ATUS

AUTL

AVAH

AVPT

AXGN

BAER

BBDC

BIGC

BILL

BIRD

BlackSky Technology Inc. Class A Common Stock

BKSY

BLFS

BLND

CARG

CARS

CBLL

CBUS

CCEC

CCOI

CCRD

CDTX

CION

CLAR

CLFD

CLNE

CMPS

CMRE

CODX

COLD

COLL

COMP

CRNX

CRON

CROX

CRVS

CTEV

CTKB

CTLP

CVRX

DAVE

DCGO

DCTH

DIOD

DKNG

Earnings Scheduled For May 8, 2025

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Below are some instances of options activity happening in the Information Technology sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>AAPL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/09/25</td>
<td>$195.00</td>
<td>$34.5K</td>
<td>12.2K</td>
<td>31.8K</td>
</tr>
<tr>
<td>MSTR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/09/25</td>
<td>$400.00</td>
<td>$26.3K</td>
<td>13.3K</td>
<td>11.7K</td>
</tr>
<tr>
<td>MSFT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/09/25</td>
<td>$440.00</td>
<td>$29.9K</td>
<td>5.4K</td>
<td>5.4K</td>
</tr>
<tr>
<td>APP</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/09/25</td>
<td>$300.00</td>
<td>$46.5K</td>
<td>4.5K</td>
<td>5.2K</td>
</tr>
<tr>
<td>HPQ</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/18/26</td>
<td>$25.00</td>
<td>$29.4K</td>
<td>208</td>
<td>3.5K</td>
</tr>
<tr>
<td>AMD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>09/19/25</td>
<td>$80.00</td>
<td>$35.7K</td>
<td>5.7K</td>
<td>3.0K</td>
</tr>
<tr>
<td>U</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/16/25</td>
<td>$20.00</td>
<td>$59.9K</td>
<td>4.5K</td>
<td>2.2K</td>
</tr>
<tr>
<td>MU</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/16/25</td>
<td>$80.00</td>
<td>$107.5K</td>
<td>11.8K</td>
<td>1.3K</td>
</tr>
<tr>
<td>ENPH</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/19/25</td>
<td>$45.00</td>
<td>$98.6K</td>
<td>441</td>
<td>985</td>
</tr>
<tr>
<td>MARA</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/09/25</td>
<td>$14.50</td>
<td>$67.6K</td>
<td>2.9K</td>
<td>897</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For AAPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), we notice a put option sweep that happens to be bearish, expiring in 2 day(s) on May 9, 2025. This event was a transfer of 150 contract(s) at a $195.00 strike. This particular put needed to be split into 16 different trades to become filled. The total cost received by the writing party (or parties) was $34.5K, with a price of $230.0 per contract. There were 12228 open contracts at this strike prior to today, and today 31849 contract(s) were bought and sold. 
• For MSTR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), we notice a call option sweep that happens to be bullish, expiring in 2 day(s) on May 9, 2025. This event was a transfer of 56 contract(s) at a $400.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $26.3K, with a price of $470.0 per contract. There were 13367 open contracts at this strike prior to today, and today 11745 contract(s) were bought and sold. 
• Regarding MSFT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), we observe a call option sweep with bearish sentiment. It expires in 2 day(s) on May 9, 2025. Parties traded 168 contract(s) at a $440.00 strike. This particular call needed to be split into 11 different trades to become filled. The total cost received by the writing party (or parties) was $29.9K, with a price of $178.0 per contract. There were 5404 open contracts at this strike prior to today, and today 5484 contract(s) were bought and sold. 
• Regarding APP (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>), we observe a call option trade with bearish sentiment. It expires in 2 day(s) on May 9, 2025. Parties traded 16 contract(s) at a $300.00 strike. The total cost received by the writing party (or parties) was $46.5K, with a price of $2910.0 per contract. There were 4505 open contracts at this strike prior to today, and today 5282 contract(s) were bought and sold. 
• For HPQ (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>), we notice a put option sweep that happens to be bullish, expiring in 407 day(s) on June 18, 2026. This event was a transfer of 84 contract(s) at a $25.00 strike. This particular put needed to be split into 12 different trades to become filled. The total cost received by the writing party (or parties) was $29.4K, with a price of $350.0 per contract. There were 208 open contracts at this strike prior to today, and today 3589 contract(s) were bought and sold. 
• For AMD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), we notice a call option sweep that happens to be neutral, expiring in 135 day(s) on September 19, 2025. This event was a transfer of 15 contract(s) at a $80.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $35.7K, with a price of $2385.0 per contract. There were 5777 open contracts at this strike prior to today, and today 3098 contract(s) were bought and sold. 
• Regarding U (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/U#NYSE">U</a>), we observe a put option sweep with bearish sentiment. It expires in 9 day(s) on May 16, 2025. Parties traded 921 contract(s) at a $20.00 strike. This particular put needed to be split into 12 different trades to become filled. The total cost received by the writing party (or parties) was $59.9K, with a price of $65.0 per contract. There were 4519 open contracts at this strike prior to today, and today 2263 contract(s) were bought and sold. 
• For MU (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), we notice a put option sweep that happens to be bullish, expiring in 9 day(s) on May 16, 2025. This event was a transfer of 500 contract(s) at a $80.00 strike. This particular put needed to be split into 31 different trades to become filled. The total cost received by the writing party (or parties) was $107.5K, with a price of $215.0 per contract. There were 11862 open contracts at this strike prior to today, and today 1370 contract(s) were bought and sold. 
• Regarding ENPH (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>), we observe a call option sweep with bullish sentiment. It expires in 135 day(s) on September 19, 2025. Parties traded 138 contract(s) at a $45.00 strike. This particular call needed to be split into 11 different trades to become filled. The total cost received by the writing party (or parties) was $98.6K, with a price of $715.0 per contract. There were 441 open contracts at this strike prior to today, and today 985 contract(s) were bought and sold. 
• Regarding MARA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>), we observe a put option trade with bearish sentiment. It expires in 2 day(s) on May 9, 2025. Parties traded 483 contract(s) at a $14.50 strike. The total cost received by the writing party (or parties) was $67.6K, with a price of $140.0 per contract. There were 2941 open contracts at this strike prior to today, and today 897 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

AAPL

ENPH

MSFT

10 Information Technology Stocks Whale Activity In Today's Session

BHVN

CAPR

CRSP

NVAX

SLDB

SRPT

TSHA

XNCR

Shares of vaccine and gene therapy stocks are trading lower after FDA Commissioner Marty Makary reportedly named Vinay Prasad as director of the Center for Biologics and Research.

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Needham cut ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) price target from $57 to $50. Needham analyst Quinn Bolton maintained a Buy rating. ON Semiconductor shares closed at $38.41 on Monday. See how other analysts <a href="https://www.benzinga.com/quote/ON/analyst-ratings">view this stock</a>.</li>
<li>Compass Point slashed the price target for MARA Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) from $25 to $9.5. Compass Point analyst Joe Flynn downgraded the stock from Neutral to Sell. MARA Holdings shares closed at $13.09 on Monday. <a href="https://www.benzinga.com/quote/MARA/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Leerink Partners cut Vertex Pharmaceuticals Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) price target from $550 to $503. Leerink Partners analyst David Risinger downgraded the stock from Outperform to Market Perform. Vertex Pharmaceuticals shares closed at $500.19 on Monday. See how other analysts view <a href="https://www.benzinga.com/quote/VRTX/analyst-ratings">this stock</a>.</li>
<li>HC Wainwright &amp; Co. raised the price target for Solaris Resources Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLSR#NYSE">SLSR</a>) from $10 to $11. HC Wainwright &amp; Co. analyst Heiko Ihle maintained a Buy rating. Solaris Resources shares closed at $4.33 on Monday. <a href="https://www.benzinga.com/quote/SLSR/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Telsey Advisory Group slashed the price target for Ethan Allen Interiors Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETD#NYSE">ETD</a>) from $32 to $30. Telsey Advisory Group analyst Cristina Fernandez maintained a Market Perform rating. Ethan Allen Interiors shares closed at $29.13 on Monday. See how other analysts <a href="https://www.benzinga.com/quote/ETD/analyst-ratings">view this stock</a>.</li>
<li>Rosenblatt raised Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>) price target from $230 to $250. Rosenblatt analyst Mike Genovese maintained a Buy rating. Fabrinet shares settled at $220.90 on Monday. <a href="https://www.benzinga.com/quote/FN/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Telsey Advisory Group cut NIKE, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) price target from $80 to $70. Telsey Advisory Group analyst Cristina Fernandez maintained a Market Perform rating. Nike shares closed at $57.35 on Monday. <a href="https://www.benzinga.com/quote/NKE/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Canaccord Genuity cut Castle Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSTL#NASDAQ">CSTL</a>) price target from $42 to $37. Canaccord Genuity analyst Kyle Mikson maintained a Buy rating. Castle Biosciences shares closed at $18.75 on Monday.  <a href="https://www.benzinga.com/quote/cstl/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>JP Morgan cut the price target for Twist Bioscience Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWST#NASDAQ">TWST</a>) from $40 to $33. JP Morgan analyst Rachel Vatnsdal maintained an Underweight rating. Twist Bioscience shares settled at $35.93 on Monday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>JP Morgan raised Quest Diagnostics Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>) price target from $180 to $190. JP Morgan analyst Lisa Gill maintained a Neutral rating. Quest Diagnostics shares closed at $177.57 on Monday. <a href="https://www.benzinga.com/quote/DGX/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Considering buying NKE stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="581" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/06080300/image-53-1024x581.png" alt="" class="wp-image-903102" style="width:591px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/06080300/image-53-1024x581.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/06080300/image-53-300x170.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/06080300/image-53-768x436.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/06080300/image-53.png 1116w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read This Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/25/05/45192607/jim-cramer-applied-materials-is-an-excellent-company-but-likes-this-tech-stock-more">Jim Cramer Says Applied Materials Is An &#8216;Excellent&#8217; Company, But Likes This Tech Stock More</a> </li>
</ul>
Photo via Shutterstock

Pre-Market Outlook

CSTL

SLSR

TWST

VRTX

Nike To $70? Here Are 10 Top Analyst Forecasts For Tuesday

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Compass Point analyst Joe Flynn downgraded the rating for MARA Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) from Neutral to Sell and lowered the price target from $25 to $9.5. MARA Holdings shares closed at $13.09 on Monday. <a href="https://www.benzinga.com/quote/MARA/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Leerink Partners analyst David Risinger downgraded Vertex Pharmaceuticals Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) from Outperform to Market Perform and cut the price target from $550 to $503. Vertex Pharmaceuticals shares closed at $500.19 on Monday. <a href="https://www.benzinga.com/quote/VRTX/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Citigroup analyst Jenny Ping downgraded the rating for National Grid plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGG#NYSE">NGG</a>) from Buy to Neutral. National Grid shares closed at $71.84 on Monday. <a href="https://www.benzinga.com/quote/NGG/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>JWedbush analyst Michael Pachter downgraded Turtle Beach Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBCH#NASDAQ">TBCH</a>) from Outperform to Neutral and lowered the price target from $21 to $9. Turtle Beach shares closed at $10.76 on Monday. <a href="https://www.benzinga.com/quote/tbch/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Considering buying VRTX stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="623" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/06071502/image-52-1024x623.png" alt="" class="wp-image-903019" style="width:603px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/06071502/image-52-1024x623.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/06071502/image-52-300x182.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/06071502/image-52-768x467.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/06071502/image-52.png 1095w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read This Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/25/05/45192607/jim-cramer-applied-materials-is-an-excellent-company-but-likes-this-tech-stock-more">Jim Cramer Says Applied Materials Is An &#8216;Excellent&#8217; Company, But Likes This Tech Stock More</a> </li>
</ul>
Photo via Shutterstock

Downgrades

RDDT

TBCH

This Vertex Pharmaceuticals Analyst Is No Longer Bullish; Here Are Top 4 Downgrades For Tuesday

Compass Point analyst Joe Flynn downgrades MARA Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) from Neutral to Sell and lowers the price target from $25 to $9.5.

Compass Point Downgrades MARA Holdings to Sell, Lowers Price Target to $9.5

MARA Holdings shares are trading lower after Piper Sandler cut its price target on the stock from $30 to $23.

Press Releases

MARA Holdings Announces Closing of Texas Wind Farm Acquisition

MARA Announces Fourth Quarter and Full Year 2024 Results

MARA Announces Bitcoin Production and Mining Operation Updates for February 2025

GraniteShares 2x Long MARA Daily ETF (MRAL) and GraniteShares 2x Long MRVL Daily ETF (MVLL) Launch Today

MARA Announces Bitcoin Production and Mining Operation Updates for March 2025

Amongst Volatility in The Markets, More Organizations Embrace Bitcoin, Adding Cryptocurrency to Their Treasury

COEPTIS (COEP) Expands Global Footprint with Strategic India Tech Hub

MARA Schedules Conference Call for First Quarter 2025 Financial Results

Comments

MARA Holdings

Unusual Options Activity for

Notizie

PARTENAIRE / CONTRIBUTEUR

BENZINGA MONDIAL

Date	Put/Call	Strike Price	Exp Date	DTE	Trade Vol	Day Vol	Vol / OI	OI	Trade Type	Sentiment
01:59 PMMar 21, 2025	CALL	$12.50	Mar 28, 2025	-51	32635	29955	1129	2890	TRADE	BEARISH
10:35 AMMar 19, 2025	PUT	$5.00	Jan 16, 2026	243	10000	10000	55	18319	TRADE	BEARISH