Today’s move in Core Scientific (NASDAQ:CORZ) has decimated investor interest in the Bitcoin (BTC-USD) mining sector. At the time of writing, CORZ stock has absolutely plummeted more than 75%. This comes after the company filed a Form 8-K, announcing it may need to explore bankruptcy. “Given the uncertainty regarding the Company’s financial condition, substantial doubt exists about the Company’s ability to continue,” was the most material warning investors are taking to heart today. Of note in this filing were also comments that the company will not make debt payments for this month and next.
During mixed trading across the major equity indices, broadcasting stalwart Comcast (NASDAQ:CMCSA) delivered an earnings beat. Primarily, the media giant benefitted from demand in the company’s theme parks and studios unit. However, Comcast also faces pressures in improving its broadband subscriber growth trend as well as declining digital advertising sales. CMCSA stock gained 8% on Thursday morning, though it pared gains by more than half in the afternoon.
Ford (NYSE:F) stock is on the move on Thursday after the automotive company released third-quarter results. The big news affecting F stock today is a $2.7 billion negative impact reported by the company due to its investment in Argo AI. Ford had heavily invested in the self-driving car startup, but Argo AI is now winding down its business.
