BIT Mining (BIT Mining) 6-1 Month Momentum % : -7.99% (As of Apr. 29, 2024)

Competitive Comparison of BIT Mining's 6-1 Month Momentum %

For the Information Technology Services subindustry, BIT Mining's 6-1 Month Momentum %, along with its competitors' market caps and 6-1 Month Momentum % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

BIT Mining's 6-1 Month Momentum % Distribution in the Software Industry

For the Software industry and Technology sector, BIT Mining's 6-1 Month Momentum % distribution charts can be found below:

* The bar in red indicates where BIT Mining's 6-1 Month Momentum % falls into.

BIT Mining  (NYSE:BTCM) 6-1 Month Momentum % Calculation

6-1 Month Momentum % is calculated as following:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

BIT Mining  (NYSE:BTCM) 6-1 Month Momentum % Explanation

Momentum investing is a trading strategy in which investors buy securities that are rising and sell before the prices start to go back down. The 6-1 Month Momentum % measures the total return to a stock over the past six months, but ignores the previous month.

The reason why the most recent month’s return dropped related to the short-term reversal effect associated with momentum. There is an academic finding that short-term momentum actually has a reversal effect, whereby the previous winners (measured over the past months) do poorly the next month, while the previous losers do well the next month. In order to eliminate the short-term reversal effect, the previous month return was not included in this calculation.

BIT Mining 6-1 Month Momentum % Related Terms

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BIT Mining (BIT Mining) Business Description