Argo Blockchain downgraded to Neutral from Buy at H.C. Wainwright

H.C. Wainwright downgraded Argo Blockchain to Neutral from Buy without a price target following the Q4 report. On the prospects of low-single-digit hash prices accompanying the next bear market, whenever it may arise, Argo’s debt becomes a weightier burden, the analyst tells investors in a research note. The firm says the company’s “carefully managed operations may become insufficient to offset increasingly difficult mining economics.”