If You Invested $2,000 in Marathon Digital in 2018, This Is How Much You Would Have Today
Back in 2018, Marathon Patent Group -- a tiny patent holding company which had been accused of being a "patent troll" -- started to buy thousands of ASIC miners to expand its Bitcoin (CRYPTO: BTC) mining business. In early 2021, it rebranded itself as Marathon Digital Holdings (NASDAQ: MARA) to reflect its transformation into a pure play Bitcoin miner.
Many investors scoffed at Marathon's rebranding, which seemed like an obvious attempt to hop aboard the BTC bandwagon and drive up its stock price. But if you had invested $2,000 in Marathon on Feb. 7, 2018 -- the day it placed its first major order of BTC miners -- your investment would have grown to $14,357 at the peak of the growth stock rally in November 2021 before shrinking to about $5,000 today. Let's review what happened to Marathon to see where its stock might be headed.
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Source Fool.com
