Investors have generated profits of a whopping 126% so far in 2022 after short selling crypto-focused stocks like Coinbase (NASDAQ:COIN), MicroStrategy (NASDAQ:MSTR) and Marathon Digital (NASDAQ:MARA), according to a report by analytics and financial firm S3 Capital released on Wednesday.
Some of the other profitable industries to short sell (wager on a stock's decline) this year have been automobile & components (+54%), software & services (+50%), retail (+46%) and media & entertainment (+46%), the report said. Clearly the best move was to short crypto stocks.
Short sellers' gains from crypto equities come as the decentralized market faces intense selling pressure as investors shy away from riskier assets. Increased regulatory scrutiny as well as tighter financial conditions are also acting as major headwinds in the cryptosphere. Bitcoin (BTC-USD), the largest digital token by market cap, is dropping around 65% from its record high of $67.9K in November 2021, changing...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...