"Marathon Digital Holdings remains a top election play going forward." Karim Rahemtulla, Head Fundamental Tactician, Monument Traders Alliance Earlier last month, I wrote about one of my top 2024 Election plays in the watchlist. It was a trade based on a potential victory for Republican Presidential candidate Donald Trump. I also wrote about Solar Edge (SEDG) to hedge in case of a victory for Democratic Presidential candidate Kamala Harris. For Trump, my pick was Marathon Digital Holdings (MARA). I've been bullish on MARA ever since Donald Trump made cryptocurrency a key element of his campaign. He's even gone as far to say he wants to make America the "crypto capital of the planet." Whether or not that happens is anyone's guess. Remember, these election trades are based on perception – meaning even if Trump wins it's not a guarantee this company will be a top play going forward. Still, perception is a powerful force on Wall Street and could make for big moves in the short-term. That's why I got positioned on MARA in the event of a spike leading up to the election. And after only a week, I'm already seeing upward movement on MARA. As you'll see in the chart above, MARA spiked late last week – giving myself and War Room members a chance to ring the register. I closed a 35% winner in 9 trading days on MARA. |
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