Crypto stocks face a busy week starting Nov. 9 as several companies prepare quarterly earnings announcements. Trump Media and eToro will report financial results, while investors await BitMine’s next Ethereum treasury update.
The announcements follow losses across cryptocurrency-related equities and digital assets after the U.S. midterm elections. Democrats secured control of both congressional chambers, according to Associated Press projections.
However, the election results alone do not establish the reasons behind individual stock declines. Company earnings, cryptocurrency prices and financing conditions remain important considerations.
Crypto Stocks: Trump Media Earnings Test After DJT Sell-Off
Last week’s midterm elections were a referendum on President Donald Trump. Voters delivered a clear message that they were highly disappointed with his administration as they gave Democrats a big majority in the Senate and House of Representatives.
Trump Media has been one of the top casualties of the midterm elections as it has cratered to a record low. This weakness is because investors expect the company to be investigated for offering a solution that allows customers to pay for early access of Trump’s posts. A handful of hedge funds and high-frequency trading companies have already subscribed to the service.
The company will be in the spotlight this week as it will publish its financial results on Monday. These numbers will provide more hints on its business and whether its revenue growth accelerated in the last quarter. Odds are that its revenue dropped in the third quarter as SimilarWeb data shows that traffic to its website plunged.
Most importantly, the results will provide hints about its losses. In the last earnings report, the company said that its second-quarter revenue was about $1.7 million, with its net loss rising to over $235 million.
Trump Media is considered a crypto stock because of its large Bitcoin holdings. It has 12,062 Bitcoins, making it the tenth-largest holder in the world.
BitMine to Update on Ethereum Buying
Tom Lee’s BitMine Immersion will also be another top crypto stock to watch this week as the company will provide an update on its Ethereum buying. The company has now accumulated 6,060,506 coins, which are currently valued at over $12.8 billion. Its coins are now equivalent to 4.95% of all Ethereum in circulation.
The company will likely provide an update on its Ethereum accumulation last week, with investors expecting it to complete the process soon.
At the same time, the company is in the spotlight because of the ongoing Ethereum weakness as it dropped by over 24% from its highest point in October. Also, spot Ethereum ETF outflows have surged this month, a sign that demand has waned.
eToro to Publish Earnings as its Stock Nears All-Time Low
eToro, a company that offers a trading platform, will also be in the spotlight this week as it releases its earnings. These numbers come at a time when the stock is trading at a record low.
The stock has dropped by over 70% from its peak because of the crypto winter that has affected its revenue growth. Its most recent results showed that its net contribution rose by just 9% to $229 million, with its net income rising to $53 million.
Yahoo Finance data shows that analysts expect the upcoming earnings to show that its business deteriorated last quarter. Precisely, the average estimate among 11 analysts is that its revenue dropped by 13% to $186 million. The most optimistic analyst sees the revenue falling to $200 million from $214 million last year.
eToro’s business will react to its forward guidance, which will provide more hints on its business trajectory. Hints that its business is stabilizing will be bullish for the company.
There are other top crypto companies that will publish their numbers this week. Some of the most notable of them are BitGo, Securitize, and RUM Group.
This article provides market information, not financial advice. Cryptocurrency-related equities carry financial risks. Readers should conduct independent research and consult a qualified financial professional before making investment decisions.
Crispus is a distinguished Financial Analyst at, bringing over 12 years of expertise in cryptocurrency markets, specializing in Bitcoin and altcoins. Renowned for his sharp insights at the nexus of market trends and breaking news, Crispus delivers actionable analysis to empower investors. His work is prominently featured across leading platforms, including BanklessTimes, CoinJournal, HypeIndex, SeekingAlpha, Forbes, InvestingCube, Investing.com, and MoneyTransfers.com, cementing his reputation as a trusted voice in the financial world.
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Disclaimer. Informational only, not financial advice. Crypto, forex and stocks are volatile, high-risk assets — always do your own research and consult a qualified adviser.
