If one enterprise existed that absolutely did not need another headwind to deal with, it would be Marathon Digital (NASDAQ:MARA). A blockchain mining specialist, Marathon performed astonishingly well throughout most of 2021. Of course, that was when the underlying cryptocurrency sector enjoyed its own remarkable bull run. Unfortunately, the segment’s collapse boded poorly for virtually all crypto-related enterprises. I am regrettably bearish on MARA stock. Fundamentally, the caveat “regrettably” should always define generally reputable blockchain miners. On the surface, the severe 82% decline in MARA stock on a year-to-date basis would ordinarily suggest catastrophic incompetence within the impacted enterprise’s leadership team.
