Cryptocurrencies have once again caught the bullish bug following a bout of sideways consolidation, naturally extending a helping hand to blockchain miners.
Among them, TeraWulf Inc (NASDAQ:WULF) currently ranks among the top performers Friday. Based on similar circumstances of responding to prior extreme volatility, TeraWulf may see a slow but steady rise over the next few weeks, allowing traders to blueprint their options strategies.
Fundamentally, TeraWulf stands on relatively solid ground. As Needham analyst John Todaro pointed out last September, the company is one of the top miners for converting data center capacity to High-Performance Computing (HPC). As a Benzinga report mentioned, “HPC represents a high-margin, large, and growing revenue opportunity with long-term contracts that provide revenue and margin transparency longer term.”
Investors should note that Friday’s opening price of $6.21 already exceeds Todaro’s earlier price target of $6. Nevertheless, the foundations that inspired the Buy rating — specifically robust growth (on a year-over-year basis) and a stable margin business with respect to operational efficiency — remain intact.
Therefore, risk-tolerant investors have reasonable confidence that TeraWulf shares may rise from here. However, the underlying nuances may play an important role in the actual strategy.
Deciphering Next Possible Moves For TeraWulf
Generally speaking, TeraWulf carries a slightly negative bias. Week to week, it’s a coin toss as to whether the stock will post a positive or negative return. On a four-week basis, the odds slip to 45.95% that a position …
Full story available on Benzinga.com