Shares in companies exposed to the cryptocurrency space tore higher on Monday. Many of these stocks are beaten down and widely bet against by traders, which means that gains could be accelerated through a “short squeeze.”
‘s (ticker: COIN) stock rallied 5% in U.S. premarket trading.
(MSTR), a software company with significant holdings of
in its corporate treasury, surged almost 7% in the premarket, while crypto miners
(MARA) both gained 4%. Futures tracking the
index rose 0.3%, by comparison.