Benzinga - TeraWulf Inc. (NASDAQ:WULF) shares are trading higher Wednesday as Bitcoin rises after May CPI figures came in cooler than expected.
What Else?
On Tuesday, Cantor Fitzgerald analyst Josh Siegler assumed coverage of TeraWulf with an Overweight rating and raised the price target to $7.
The analyst highlighted TeraWulf's debt reduction and second-lowest gross power rates among bitcoin miners. Siegler also noted the company has 300 MW of power which he expects to be utilized for AI/HPC purposes, making TeraWulf the best way to play the AI/HPC theme among Cantor Fitzgerald's coverage.
TeraWulf shares are moving on above-average trading volume as the price of Bitcoin (CRYPTO: BTC) recovers Wednesday after CPI data . According to data from Benzinga Pro, bitcoin is trading nearly 4% higher over the past 24 hours at $69,326.16 at the time of publication.
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Should I Sell My WULF Stock?
When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.Shares of TeraWulf have increased by 190.65% in the past year. An investor who bought shares of TeraWulf at the beginning of the year would make a profit of $1.74 per share if they sold it today. The stock has risen 98.53% over the past month, meaning an investor who bought shares on May 1 would see a capital gain of $1.87.
Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. TeraWulf stock currently has an RSI of 78.62, indicating overbought conditions.
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WULF Price Action: According to Benzinga Pro, TeraWulf shares are up 13.7% at $3.95 at the time of publication Wednesday.
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