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News  ›  The Motley Fool

Why Bitmine Immersion Technologies Stock Tumbled by Nearly 11% Today

The Motley Fool Logo The Motley Fool By Eric Volkman
Why Bitmine Immersion Technologies Stock Tumbled by Nearly 11% Today

Bitmine Immersion Technologies experienced an 11% stock drop due to cryptocurrency market volatility and a significant analyst price target reduction from $90 to $47 per share, amid broader market concerns about potential Federal Reserve interest rate policies.

Insights
NVDA   positive

Expanding strategic investments in technology companies, taking a $1 billion stake in Nokia to advance AI infrastructure


BMNR   negative

Stock dropped 11% due to cryptocurrency market downturn, analyst price target cut, and investor concerns about Ethereum's performance