Bitcoin Production Puts Focus On Marathon Digital — Snowflake, Paramount Global, IonQ, Tesla Also On Investors' Radars Today

Benzinga Neuro

February 28, 2024

On Wednesday, U.S. stocks closed lower, as indicated by the Dow Jones Industrial Average slipping 0.06% to 38,949.02. The S&P 500 saw a decline of almost 0.2% to 5,069.76, while the Nasdaq, which is weighted towards technology stocks, concluded the trading session with a 0.55% decrease at 15,947.74.

These are the top stocks that gained the attention of retail traders and investors throughout the day:

Marathon Digital Holdings (NASDAQ:MARA)

Marathon Digital Holdings experienced a notable day with a 2.4% gain, closing at $31.03. The company’s fourth-quarter earnings highlighted a significant year-over-year revenue increase and a notable rise in Bitcoin (CRYPTO: BTC) production, despite a loss per share. Plans for hash rate growth and the launch of the Anduro network signal a promising future.

Snowflake Inc (NYSE:SNOW)

Snowflake Inc’s shares adjusted to $230, a -1.72% change. The company reported its fourth-quarter financial results with a 32% year-over-year revenue increase to $774.7 million, surpassing estimates. Earnings per share stood at 35 cents, outperforming analyst predictions. CEO Frank Slootman retired, succeeded by Sridhar Ramaswamy. The company anticipates first-quarter product revenue between $745 million to $750 million and full-year revenue of $3.25 billion.

Paramount Global (NASDAQ:PARA)

Paramount Global stock declined 1.69% to $11.06 for the day. The company reported an EPS beat. The fourth-quarter earnings reveal a strategic beat on earnings expectations, despite a year-over-year revenue decrease, keeping investors’ eyes peeled for future performance.

IonQ Inc (NYSE:IONQ)

IonQ Inc. closed at $11.26, registering a negative 2.68% change in regular trading hours. The shares declined despite positive fourth-quarter results. The company’s revenue beat estimates and its forward-looking statements on quantum computing’s role in AI set a strong foundation for growth.

Tesla, Inc. (NASDAQ:TSLA)

Tesla, Inc. experienced a +1.16% uptick, closing at $202.04, influenced by its market position and strategic updates. The company’s dominance in the EV market is further solidified by competitors’ strategic shifts with Apple’s decision to pull the plug on its self-driving vehicle made public on the day.

Photo by WHYFRAME on Shutterstock

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