Here's Why Marathon Patent Group Stock Tumbled Today
Shares of bitcoin-mining company Marathon Patent Group (NASDAQ: MARA) tumbled on Thursday, as the price of bitcoin continued falling. As of 1:15 p.m. EST, the stock was down 10%.
In recent days there has been some news regarding Marathon's management, though it's not likely contributing to the stock's decline. Kevin A. DeNuccio was recently added to the board of directors. DeNuccio has twice been a chief executive officer of a public company, once with Redback Networks and then with Violin Memory. Both of those experiences ended with a sale of the company, but DeNuccio didn't hint that will be the plan with Marathon. In the press release he expressed excitement to be joining "at this pivotal time in Marathon's growth phase."
Image source: Getty Images.
Source Fool.com
