The primary reason why RIOT stock is falling is that China intensified its crackdown on mining activities.
Why are investors dumping riot blockchain stock today?
Jun 21, 2021 · This past year’s sudden and massive increase is due to the price of Bitcoin (CCC: BTC) surging from $8000 to $58000….and you guessed it that RIOT stock dropped again recently is due to Bitcoin dropping to 32,340. The primary reason why RIOT stock is falling is that China intensified its crackdown on mining activities.
What will happen to the price of riots at 50k?
Apr 13, 2021 · This is why the stock is up today. Image source: Getty Images. However, Riot Blockchain has a market capitalization of $4.6 billion and some investors think that's too much.
Will riot drop below $21?
Nov 16, 2021 · Shares of Riot Blockchain (RIOT) drop 13% on Tuesday after the company posted worse-than-expected Q3 results. Still, revenue and mining revenue margins improved as …
Is riot undervalued or overvalued?
Dec 28, 2021 · Adrian Vidal/iStock Editorial via Getty Images. Bitcoin miner Riot Blockchain (NASDAQ:RIOT) shares slide 8.0% in Tuesday trading, its biggest one-day drop since Dec. 3, as bitcoin loses 6.7% in ...
Is RIOT stock a good buy?
Riot Blockchain's analyst rating consensus is a 'Strong Buy. This is based on the ratings of 6 Wall Streets Analysts.
Is RIOT a good long term investment?
Many factors suggest that RIOT is a good long-term investment. However, investors should not jump blindly with expectations of a quick return. The fundamentals and current upward pressure could create a profit for short-term investors.
Is riot Blockchain overvalued?
Comps showed that Riot is overvalued where Riot is priced 300% higher than BITF despite having similar current mining capacity and expected 2022 build-up capacity. Our model puts a number to that overvaluation: 70% overvalued and 30% overvalued given a $50,000 and $66,000 Bitcoin, respectively.Jan 20, 2022
Is RIOT a Buy Sell or Hold?
Riot Blockchain has received a consensus rating of Buy. The company's average rating score is 2.88, and is based on 7 buy ratings, 1 hold rating, and no sell ratings.
Is RIOT a cryptocurrency?
Riot Blockchain, Inc. operates as a digital currency company. The Company focuses on buying cryptocurrency and blockchain businesses, as well as supports blockchain technology companies.
Is RIOT undervalued?
RIOT stock is relatively overvalued based on its PE ratio (153.8x) compared to the U.S. Software industry average of 44.2x. Based on its price/earnings to growth (PEG) ratio (4.5x), but seems relatively undervalued based on its price-to-book (PB) ratio (3.1x) compared to the U.S. Software industry average of 5x.Jan 12, 2022
Will Riot Blockchain go up?
Riot Blockchain Inc (NASDAQ:RIOT) The 9 analysts offering 12-month price forecasts for Riot Blockchain Inc have a median target of 45.00, with a high estimate of 50.00 and a low estimate of 30.00. The median estimate represents a +191.07% increase from the last price of 15.46.
Is Riot Blockchain profitable?
Although Riot Blockchain is not yet profitable, it seems to be on a glide path for this. It reported a net loss of $15.3 million for Q3. However, with its newer Bitcoin mining machines, which are more efficient, the company should be able to move to net profits soon.Nov 22, 2021
Is Riot Blockchain a buy?
The Riot Blockchain, Inc stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock.
How do I get riot Blockchain?
How to buy shares in Riot BlockchainCompare share trading platforms. Use our comparison table to help you find a platform that fits you.Open your brokerage account. Complete an application with your details.Confirm your payment details. ... Research the stock. ... Purchase now or later. ... Check in on your investment.
Is Hut 8 stock a buy?
Hut 8 Mining has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 3 buy ratings, no hold ratings, and no sell ratings.
What is Riot Blockchain target price?
Stock Price TargetsHigh$50.00Median$45.00Low$30.00Average$42.47Current Price$16.68
Is Riot Blockchain a buy right now?
8 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Riot Blockchain in the last year. There are currently 1 hold rati...
When is Riot Blockchain's next earnings date?
Riot Blockchain is scheduled to release its next quarterly earnings announcement on Wednesday, March 30th 2022. View our earnings forecast for Rio...
How were Riot Blockchain's earnings last quarter?
Riot Blockchain, Inc. (NASDAQ:RIOT) released its quarterly earnings results on Monday, November, 15th. The technology company reported ($0.16) EPS...
What price target have analysts set for RIOT?
8 Wall Street analysts have issued 12-month target prices for Riot Blockchain's shares. Their forecasts range from $30.00 to $53.00. On average, th...
Who are Riot Blockchain's key executives?
Riot Blockchain's management team includes the following people: Mr. Soo Li Yi , Exec. Chairman (Age 39, Pay $100.5k) Mr. Jason Les , CEO & Non...
Who are some of Riot Blockchain's key competitors?
Some companies that are related to Riot Blockchain include Playtika (PLTK) , Change Healthcare (CHNG) , TELUS International (Cda) (TIXT) , Five...
What other stocks do shareholders of Riot Blockchain own?
Based on aggregate information from My MarketBeat watchlists, some companies that other Riot Blockchain investors own include NVIDIA (NVDA) , Adv...
What is Riot Blockchain's stock symbol?
Riot Blockchain trades on the NASDAQ under the ticker symbol "RIOT."
Who are Riot Blockchain's major shareholders?
Riot Blockchain's stock is owned by many different institutional and retail investors. Top institutional shareholders include BlackRock Inc. (4.92%...
The company is paid in bitcoin, and bitcoin is worth less today than it was yesterday
After spending more than a decade travelling the world exploring different cultures and languages, I'm happy to now be contributing to the Motley Fool's mission to make the world smarter, happier, and richer. What's great about exploring business and the economy is the insight it gives you into how things are in the world.
What happened
Shares of bitcoin-mining company Riot Blockchain ( NASDAQ:RIOT) continued their decline on Thursday because the price of bitcoin keeps falling. As of 3 p.m. EST, Riot Blockchain stock was down 10%. And over the past 24 hours, the price of bitcoin has fallen 8%, according to CoinDesk.
So what
Riot Blockchain mines bitcoin to generate revenue. By providing its own computing power to the bitcoin blockchain network, transactions are processed and the whole system functions. Of course, if your business is paid in bitcoin tokens, it's not good when the price of bitcoin goes down. That's why investors are dumping Riot Blockchain stock today.
Now what
Earlier this week, Riot Blockchain issued a press release that I believe is a timely reminder for any investor with intentions of holding for the long term. The company had previously announced that it ordered new equipment. But it finally received and deployed 2,500 Bitmain S19 Pro Antminers this week.
Is Riot Blockchain a buy right now?
4 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Riot Blockchain in the last twelve months. There are currently 4 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" Riot Blockchain stock.#N#View analyst ratings for Riot Blockchain or view top-rated stocks.
What stocks does MarketBeat like better than Riot Blockchain?
Wall Street analysts have given Riot Blockchain a "Buy" rating, but there may be better buying opportunities in the stock market. Some of MarketBeat's past winning trading ideas have resulted in 5-15% weekly gains. MarketBeat just released five new stock ideas, but Riot Blockchain wasn't one of them.
When is Riot Blockchain's next earnings date?
Riot Blockchain is scheduled to release its next quarterly earnings announcement on Monday, November 8th 2021.#N#View our earnings forecast for Riot Blockchain.
How were Riot Blockchain's earnings last quarter?
Riot Blockchain, Inc. (NASDAQ:RIOT) posted its quarterly earnings data on Sunday, August, 22nd. The technology company reported $0.13 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.05 by $0.08.
What price target have analysts set for RIOT?
4 equities research analysts have issued 1-year price objectives for Riot Blockchain's shares. Their forecasts range from $43.00 to $51.00. On average, they expect Riot Blockchain's stock price to reach $47.25 in the next twelve months.
Who are some of Riot Blockchain's key competitors?
Some companies that are related to Riot Blockchain include Pegasystems (PEGA), Proofpoint (PFPT), Zynga (ZNGA), TELUS International (Cda) (TIXT), DXC Technology (DXC), LegalZoom.com (LZ), Change Healthcare (CHNG), TaskUs (TASK), Inovalon (INOV), Autohome (ATHM), Upwork (UPWK), JOYY (YY), Skillz (SKLZ), Shutterstock (SSTK) and CarGurus (CARG).#N#View all of RIOT's competitors..
What other stocks do shareholders of Riot Blockchain own?
Based on aggregate information from My MarketBeat watchlists, some companies that other Riot Blockchain investors own include NVIDIA (NVDA), Advanced Micro Devices (AMD), Overstock.com (OSTK), QUALCOMM (QCOM), Square (SQ), The Boeing (BA), PayPal (PYPL), Micron Technology (MU), Tesla (TSLA) and Alibaba Group (BABA).
What happened
Shares of cryptocurrency miner Riot Blockchain ( NASDAQ:RIOT) were seeing volatility on Tuesday morning. The stock was up 7% as of 10:30 a.m. EDT. It's trading higher because Bitcoin ( CRYPTO:BTC) hit an all-time high today. But Riot Blockchain is having a hard time staying up, perhaps because of something said by a former short-seller.
So what
Right before 8 a.m. EDT, the price of Bitcoin surpassed $63,000 for the first time, according to CoinDesk. For perspective, it was at about $6,800 at this time last year. Riot Blockchain is mining almost 200 Bitcoins per month according to an update for investors yesterday.
Now what
On one hand, Citron Research makes a fair point. Consider that Riot Blockchain held 1,078 Bitcoins on Dec. 31, 2020. It mined 491 Bitcoins in the first quarter and currently holds 1,565, implying it only sold four Bitcoins in Q1. This means the company is largely funding operations through financing and primarily mining Bitcoin in order to hold.
Signals & Forecast
The Riot Blockchain, Inc stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average.
Support, Risk & Stop-loss
On the downside, the stock finds support just below today's level from accumulated volume at $35.40 and $34.00. There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Riot Blockchain, Inc finds support just below today's level at $35.40.
Is Riot Blockchain, Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Riot Blockchain, Inc stock to perform well in the short-term.
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Total cash, cash equivalents and marketable securities of the company as per the latest quarter (in billions of dollars).