Riot Blockchain Could Fall Fast If Bitcoin Takes a Breather

InvestorPlace2021-05-11

Cryptocurrency miner RIOT stock is likely to stay under pressure in the coming weeks. Riot Blockchain (NASDAQ:RIOT) stock has been one of the clear winners of the past year. In the past 12 months ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Ryanval2007
2021-05-11
Ryanval2007
Should do it when its hot
MFME
2021-05-11
MFME
Hahaha... whats new... its speculative...

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1172733300?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2021-05-11 15:11","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1172733300","market":"us","top_or_hot":-1,"title":"Riot Blockchain Could Fall Fast If Bitcoin Takes a Breather","media":"InvestorPlace","content":"<div>\n<p>Cryptocurrency miner RIOT stock is likely to stay under pressure in the coming weeks.\n\nRiot Blockchain (NASDAQ:RIOT) stock has been one of the clear winners of the past year. In the past 12 months ...</p>\n\n<a href=\"https://investorplace.com/2021/05/riot-stock-could-fall-fast-if-bitcoin-takes-a-breather/\">Source Link</a>\n\n</div>\n","source":"lsy1606302653667","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Riot Blockchain Could Fall Fast If Bitcoin Takes a Breather</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRiot Blockchain Could Fall Fast If Bitcoin Takes a Breather\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-11 15:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/05/riot-stock-could-fall-fast-if-bitcoin-takes-a-breather/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Cryptocurrency miner RIOT stock is likely to stay under pressure in the coming weeks.\n\nRiot Blockchain (NASDAQ:RIOT) stock has been one of the clear winners of the past year. In the past 12 months ...</p>\n\n<a href=\"https://investorplace.com/2021/05/riot-stock-could-fall-fast-if-bitcoin-takes-a-breather/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"RIOT","symbol_name":"Riot Platforms","start_time":0,"source_url":"https://investorplace.com/2021/05/riot-stock-could-fall-fast-if-bitcoin-takes-a-breather/","article_id":"1172733300","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1172733300","pubTimestamp":1620717067,"columns":[],"sourceInfo":{"source_id":"lsy1606302653667","name":"InvestorPlace"},"weMediaInfo":null,"summary":"Cryptocurrency miner RIOT stock is likely to stay under pressure in the coming weeks.\n\nRiot Blockcha","collect":0,"end_time":0,"defaultTopTitle":"investorplace.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"RIOT":"Riot Platforms"},"translate_title":"比特币稍作喘息，区块链可能快速下跌","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RIOT":0.9},"content_text":"Cryptocurrency miner RIOT stock is likely to stay under pressure in the coming weeks.\n\nRiot Blockchain (NASDAQ:RIOT) stock has been one of the clear winners of the past year. In the past 12 months RIOT stock is up over 1,500%. Put another way, the proverbial $1,000 invested in the company a year ago would now be worth around $15,500. It is hard to argue with those kind of returns.\nIn recent months, the Castle Rock, Colorado-based company has been expanding and upgrading itsBitcoin (CCC:BTC-USD) mining operations. Meanwhile, the Street has been paying attention to the recent success story. The 52-week range of the stock has been $1.10- $79.50, and the shares hit a record high in mid-February. However, RIOT is currently around $30, and the market capitalization stands at $2.8 billion.\nGiven the recent decline in RIOT stock, investors wonder whether now would be an opportune time to buy into the share price. If you are not yet a shareholder, you might want to wait for the price to stabilize.\nIn the coming weeks, I expect the price to fall below $30. Here’s why.\nHow Recent Earnings Came\nRiot released its2020financials at the end of March. Mining revenues increased by 116% to $5.2 million in Q4 2020, compared to $2.4 million revenue in the previous quarter. The average Bitcoin price used to calculate Riot’s fourth-quarter revenues was approximately $18,900.\nThe group also announced $3.9 million net income in the fourth quarter, a significant improvement from the $3.4 million net loss in the prior year quarter. In addition, its hashing capacity increased by 460% from the previous year. Crypto investors pay attention tohash power, where the “Bitcoin network hash rate is the speed at which any particular type of mining machine operates.”\nBetter (or higher) hashrate means more payout for miners like RIOT, which wants to achieve a hash rate of 7,700 PH/s by 2023. Its rate is currently at 1,600 PH/s.\nCEO Jason Les cited, “Our strategic decision to solely focus on bitcoin mining in early 2020 allowed the company to exit 2020 as a public company leader as measured by total hash rate. We are pleased to have invested into continuing our deployed hash rate growth, allowing us to capitalize on the extraordinary current opportunities in Bitcoin mining.”\nOn April 12, Riot Blockchain providedQ1production and operations update. As of March 31, Riot holds over 1,565 Bitcoin on its balance sheet, all of which was produced by its mining operations. It has also mined 75% more Bitcoin tokens than it did a year ago. Following the results, the shares got a short-term boost.\nThe Bottom Line on RIOT stock\nMarket participants have widely different views on the evolving crypto space. So far in 2021, RIOT stock is up 80%. By comparison, Bitcoin has returned about 93%. In other words, the price of most mining stock follow that of the crypto.\nRIOT stock’s forward price-earnings and price-sales ratios stand at 17x and 116x. Shares of Riot Blockchain are highly dependent on the price of BTC-USD. In recent weeks, Bitcoin has been extremely volatile and the Street is debating whether there could be further pullbacks in both the crypto and the miners.\nThose investors who also follow technical charts would possibly notice that the downtrend in RIOT stock is likely to continue in the coming days, possibly taking the shares below $30. Potential investors could eye a decline toward the $27.50 level as a better point of entry.\nOn the date of publication, Tezcan Gecgil did not have (either directly or indirectly) any positions in the securities mentioned in this article.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":199589785,"gmtCreate":1620717984247,"gmtModify":1704347241443,"author":{"id":"3582010571984381","authorId":"3582010571984381","name":"Ryanval2007","avatar":"https://static.tigerbbs.com/56e4ec2fa88bc5dc5b36c83b42a63ba1","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3582010571984381","idStr":"3582010571984381"},"htmlText":"Should do it when its hot","listText":"Should do it when its hot","text":"Should do it when its hot","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/199589785","repostId":1172733300,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":199516238,"gmtCreate":1620717312124,"gmtModify":1704347232537,"author":{"id":"3574399983193226","authorId":"3574399983193226","name":"MFME","avatar":"https://static.tigerbbs.com/9c7d2325aa9eb91869c4c7144270a75a","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":7,"crmLevelSwitch":1,"authorIdStr":"3574399983193226","idStr":"3574399983193226"},"htmlText":"Hahaha... whats new... its speculative...","listText":"Hahaha... whats new... its speculative...","text":"Hahaha... whats new... its speculative...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/199516238","repostId":1172733300,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":8,"commentSize":2,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1172733300"}