Stock Of The Day: Is There A Revision To The Mean In Bitfarms?

Shares of Bitfarms Ltd. (NASDAQ:BITF) are trading lower on Wednesday. The stock started to head down last week after announcing convertible note offering.Bitfarms reversed after becoming extremely overbought. This is why it is our Stock of the Day.Many trading strategies and models are built around the concept of reversion to the mean. If a stock gets overextended in one direction or the other, traders will anticipate a reversal.If a stock has been aggressively bought and rises above its typical range, it i ...