So I first stumbled across Marathon Patent Group ($MARA) in August when I was browsing a list of nanocap stocks looking for some prospects. At the time that I first saw it, it was trading at $0.26 (they have since done a 4-1 reverse split) for a market cap of about $8m - pretty much straight down from when it IPO'd in 2014.
I was interested in it because they seemed to have a decent portfolio of patents in various industries (automotive, batteries, biomedical, electronics, etc.). Looking back in their history I saw that they had won a case before against Oracle that paid them $35m so I figured there was some chance they could have a similar pay day again and, at the very least, $8m seemed to be modest price for their patent portfolio.
So I put it on my watch list and checked in on it a couple times a week. The earnings are always poor because they haven't won a case in quite a while. Fast forward to this month when they announced that they would be purchasing some type of blockchain company called Global Bit Ventures (11/02/17).
This acquisition news initially didn't affect the stock price too much. Then this Wednesday (11/22/17) the stock popped a bit to over $2.00 which is about 100% increase in market cap since I started watching it. Then yesterday (11/24/17) it REALLY POPPED, closing at $5.95 - up 172% for the day. Plus after hours trading brought it all the way up to $7.00.
So at this point, $MARA has a market cap of about $54m which is up around 675% since I started watching it. I know this is a nanocap that most people have never heard of but I actually did see it go across the ticker on CNBC yesterday.
Basically, I just think this is an interesting company and that the giant pop was big name analysts - volume was 28x the 65 day average - trying to use it as a bitcoin/blockchain play considering the coming acquisition of Global Bit Ventures.
What do you think about it? Oh and I never bought it, still just watching trying to learn about micro/nano cap stocks.
Submitted November 25, 2017 at 10:21AM by CzarNicholasThe2nd http://ift.tt/2hTUMFy
