MARA Holdings Slides as Traders Hedge and Targets Fall

MARA Holdings ( (MARA) ) has fallen by -7.57%. Read on to learn why.

MARA Holdings shares fell 7.57% over the past week, extending a choppy stretch marked by shifting options sentiment and cautious signals from Wall Street. The stock recently traded around the low-$10 range, with a sharp pickup in options activity as traders positioned for bigger short-term moves. Implied volatility climbed above its 52-week median at one point, reflecting expectations of wide daily price swings and heightened uncertainty around the name.

Options trading in MARA Holdings sent mixed messages. On one day, activity turned moderately bearish, with a steepening put‑call skew and increased demand for downside protection even as calls outnumbered puts. On another session, sentiment looked more balanced to slightly bullish, with a more typical put/call ratio and a drop in implied volatility, suggesting some traders were willing to bet that the selling pressure might ease. Overall, derivatives markets signal nervousness rather than outright capitulation.

Fundamentals and analyst actions also played into the week’s decline. Piper Sandler cut its price target on MARA Holdings from $26 to $16 ahead of quarterly results, a notable reset even as it maintained an Overweight/Buy rating. At the same time, analyst consensus still sits at a Moderate Buy with an average target near $21, and the company’s latest reported quarter showed strong revenue growth and a swing from a net loss to a healthy profit year-on-year. However, negative insider sentiment—driven by increased insider selling—has added another layer of caution for investors trying to gauge whether the recent 7.57% pullback marks a buying opportunity or a sign of deeper skepticism.