BTIG Initiates Coverage of Trump-Backed ABTC with $15 Price Target

Shares of American Bitcoin Corp. (ABTC) jumped nearly 9% on Thursday after BTIG initiated coverage, assigning a $15 price target to the company.

The stock reached $8.88 as analysts highlighted its combination of Bitcoin mining and accumulation, including a mining capacity of about 28 exahashes per second and roughly 8,000 Bitcoin held by the company.

This recent rally comes after ABTC fell from a high of $120 to as low as $4.92 earlier this year, before rebounding in recent days.