BMNR Stock Risks Drop Below $20 While Retail Traders Turn On Tom Lee – ‘The Talking Stops Working’

• Bitmine Immersion Technologies shares dropped on Friday, pressured by weakness in Ethereum and a broader decline in the stock market.
• BMNR became the top trending ticker on Stocktwits, with message volume rising about 50% over the past 24 hours.
• Retail traders expressed growing frustration with CEO Tom Lee, with some criticizing the gap between bullish commentary and the stock’s performance.

Shares of Tom Lee-backed Bitmine Immersion Technologies (BMNR) plummeted in midday trade on Friday amid weakness in Ethereum (ETH), while frustrated retail traders debated whether confidence in CEO Tom Lee was finally starting to crack.

BMNR’s stock fell roughly 8% in midday trade, attempting to hold above the $20 level, amid a broader retreat in technology and crypto-linked equities.  It was the top ticker on Stocktwits at the time of writing. Retail sentiment on the platform around the digital asset treasury remained in ‘bullish’ territory and chatter rose to ‘normal’ from ‘low’ levels over the past day. 

Retail Traders Split Over Tom Lee’s Ethereum Vision

Platform data showed a 50% uptick in message volume over the last 24 hours as several retail traders expressed frustration with chairmanTom Lee and the company’s inability to translate its Ethereum-focused strategy into stock gains that stick. One user stated that investors may finally be losing patience.

Others warned that further downside could be ahead, with one trader predicting the “real panic” may not arrive until next week.

Some users discussed potential legal action against management, while others defended the company’s long-term Ethereum accumulation and staking strategy.

BMNR Isn’t Performing Like MSTR

Ethereum’s price fell 3.5% in the last 24 hours, to around $2,200. Retail sentiment around the altcoin on Stocktwits trended in ‘neutral’ territory over the past day, with chatter at ‘normal’ levels. 

BMNR’s stock has fallen over 27% this year, while Ethereum’s price has fallen 24%. In comparison, Strategy (MSTR), the biggest corporate holder of Bitcoin (BTC), has gained 13% this year even as Bitcoin’s price has fallen over 8%. 

Read also: Trump Trust Bought Into COIN, MSTR, MARA Stocks In Q1 — The Same Quarter His Administration Pushed Pro-Crypto Legislation

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