On Nov. 15, Marathon Digital Holdings Inc. plummeted over 27 percent after the company disclosed it had received a subpoena from the U.S. Securities and Exchange Commission asking it to produce communications and documents related to its data-center facility in Hardin, Montana. Between Tuesday and Thursday, the sell-off continued and Marathon Digital pulled back a further 13 percent to a low of $47.41 but this time in sympathy with Bitcoin and Ethereum, which have plummeted about 15 percent and 14 percent, respectively, since Sunday’s 24-hour closing prices. On Friday, Marathon Digital was following Bitcoin and Ethereum into a bounce up from the lows, but the stock will have a lot of work to do before negating a bearish pattern and trend. The Marathon Digital Chart Marathon Digital hit a new all-time high of $83.45 on Nov. 9 but sold off 25 percent the following day after receiving a bearish reaction …
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