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We recently published a list of 11 Firms Under Tech, Energy, Aviation Lead Friday Rally. In this article, we are going to take a look at where CleanSpark, Inc. (NASDAQ:CLSK) stands against other firms under tech, energy, and aviation, which led Friday's rally.
Wall Street’s main indices finished in the green territory on Friday amid a series of catalysts buoying investor appetite.
The Dow Jones Industrial Average rose by 0.80 percent, while the S&P 500 and Nasdaq Composite rallied by 1.26 percent and 1.77 percent, respectively.
Eleven companies—predominantly in the technology, energy, and aviation sectors—posted notable gains. Here is why:
To come up with Friday’s top advancers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A hall of server racks, illuminated by blue LED lights and humming with energy.
CleanSpark, Inc. (NASDAQ:CLSK)
Shares of CleanSpark Inc. (NASDAQ:CLSK) rose for a second day on Friday, adding 14.29 percent or 1.35 points to close at $10.80 apiece as investors welcomed news of higher Bitcoin prices.
On Friday, prices of Bitcoin cracked past the $97,000 territory as the cryptocurrency tried to retest its $100,000 resistance level.
Bullish analysts also buoyed investor sentiment comments on Bitcoin miners such as CleanSpark (CLSK) as they are poised to capitalize on three key themes this year: higher yields, high-performance computing, and favorable regulatory shifts—all of which may drive growth and further spark investor interest.
CleanSpark (CLSK) also earned a “hold” rating from Zack Research over its growth prospects despite projecting a loss of $0.09 per share.
CleanSpark is a Bitcoin miner that owns sustainable data centers powered by low-carbon energy sources.
Overall, CLSK ranks 9th on our list of firms under tech, energy, and aviation, which led Friday's rally. While we acknowledge the potential of CLSK as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CLSK but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.