MARA Stock Rallies on Bitcoin Bounce and Analyst Upgrade
MARA Holdings Inc. (NASDAQ:MARA) shares are trading higher on Friday, driven by a resurgence in Bitcoin prices and an upwardly revised analyst forecast.
The stock is up 8.93% at $12.68 as of the time of publication, according to Benzinga Pro data.
This comes after Morgan Stanley maintained its Underweight rating on MARA but raised its price target to $11 on Friday.
The uptick in MARA's stock is also linked to the U.S. Commodity Futures Trading Commission's proposal to establish a regulatory framework for crypto asset transactions and markets.
Technical analysis indicates that MARA is trading above its 20-day, 50-day, and 200-day Simple Moving Averages (SMAs), signaling a bullish trend.