BitFuFu Slides as Bitcoin Struggles—Traders Look to Next Week
BitFuFu Inc. shares slumped Friday, losing 7% to close at $1.86. The Bitcoin miner from Singapore posted a bigger first-quarter loss and revenue slipped. Shares finished the short trading week off 8.8% from the May 22 close. Friday’s volume was 631,470 shares. Nasdaq being closed Monday for Memorial Day throws off the schedule. The market's next regular session lands on Monday, June 1. That means investors only get one trading day to adjust to the earnings before the weekend. Bitcoin doesn’t stop. The token traded near $73,806 Saturday, giving miners and their revenue a live risk signal, since their balances are anchored to bitcoin.