Bitmine Immersion Technologies (BMNR) shares fell approximately 8% on Friday. A broader downturn in technology and crypto-linked stocks pressured the price.
The decline tracked a 3.5% drop in Ethereum (ETH) over the last 24 hours. BMNR holds a significant portion of its treasury in the cryptocurrency.
The stock became the top trending ticker on Stocktwits. Message volume on the platform surged 50%.
Retail traders expressed growing frustration with Chairman Tom Lee. Discussions highlighted a gap between the company's bullish outlook and its recent market performance. Negative sentiment drove the decline despite some support for the company's long-term strategy.