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Riot Platforms, Inc. ($RIOT) Stock Forecast: Up 5.2% Today

Morpher AI identified a bullish signal. The stock price may continue to rise based on the momentum of the good news.

What is Riot Platforms, Inc.?

RIOT, or Riot Platforms, Inc., is a company listed on the NASDAQ stock exchange. It has shown a strong bullish movement in the market today.

Why is Riot Platforms, Inc. going up?

RIOT stock is up 5.2% on Jul 23, 2024 14:26

  • RIOT stock experienced a significant increase in value, closing at $12.24, marking a +1.75% move from the previous day.
  • The bullish movement in RIOT could be attributed to the overall positive sentiment in the cryptocurrency market, specifically Bitcoin mining stocks.
  • The recent surge in Bitcoin prices, driven by external factors like the assassination attempt on former President Trump, has positively impacted Bitcoin mining stocks, including RIOT.
  • Investors may have been attracted to RIOT due to its strong performance over the past 5 years, outperforming the market and showing an average annual return of 41.59%.

RIOT Price Chart

RIOT News

2 crypto mining stocks with ‘strong buy’ ratings for July 2024

The post 2 crypto mining stocks with ‘strong buy’ ratings for July 2024 appeared on BitcoinEthereumNews.com . Bitcoin (BTC) mining stocks are drawing significant attention from investors looking for promising opportunities in the cryptocurrency market. The recent assassination attempt on former President Trump sent shockwaves through the political landscape, driving Bitcoin prices over $64,000 and boosting Bitcoin miner stocks. Earlier this year, these stocks struggled due to investor concerns over declining revenues and rising costs following the launch of spot Bitcoin ETFs in the US and the halving event. However, according to ecoinometrics, Bitcoin mining stocks have been steadily closing the performance gap with Bitcoin itself. The industry has made significant strides in consolidating operations and shifting towards more ventures like cloud computing and artificial intelligence (AI). The Bitcoin miners are closing the gap with BTC. Between the launch of the Bitcoin ETFs and the halving, miners’ stocks performed poorly.

https://bitcoinethereumnews.com/crypto/2-crypto-mining-stocks-with-strong-buy-ratings-for-july-2024/

News Article Image 2 crypto mining stocks with ‘strong buy’ ratings for July 2024

Riot Platforms, Inc. ( RIOT ) Rises Higher Than Market: Key Facts

In the latest trading session, Riot Platforms, Inc. (RIOT) closed at $12.24, marking a +1.75% move from the previous day.

https://www.zacks.com/stock/news/2306399/riot-platforms-inc-riot-rises-higher-than-market-key-facts

News Article Image Riot Platforms, Inc.  ( RIOT )  Rises Higher Than Market: Key Facts

3 Short-Squeeze Stocks to Buy Now If You Want to Double Your Money

It’s unlikely that investors can always make money in the markets. During bull markets, the focus should be on maximizing returns by taking relatively higher risks. During bear markets, the objective should be to minimize the drawdown by remaining invested in low-beta stocks. Currently, the markets are in a phase where money-making is relatively easy. Investors can use various strategies to maximize portfolio returns. One method that has gained significant popularity after the meme euphoria is exposure to short-squeeze stocks, which offer quick returns at the blink of an eye. These stocks have high short interest, and a trend reversal can trigger a massive short-covering rally.   There are some short-squeeze stocks that have the potential to double your investment by the end of the year. In my view, these stocks are undervalued with positive impending catalysts. Let’s discuss the company- or industry-specific reason for being bullish.

https://investorplace.com/2024/07/3-short-squeeze-stocks-to-buy-now-if-you-want-to-double-your-money/

News Article Image 3 Short-Squeeze Stocks to Buy Now If You Want to Double Your Money

Stocks fell on track for sharp weekly losses for the S&P 500 and Nasdaq.

U.S. stocks fell on Friday as concerns about a global IT outage eased, with Wall Street looking to recover from a selloff that saw the Dow Jones Industrial Average snap a winning streak and technology stocks continue to slide. The Dow Jones Industrial Average (^DJI) fell 1%, after a blue-chip index fell more than 1%. The S&P 500 (^GSPC) fell 0.6%, while the tech-dominated Nasdaq Composite (^IXIC) fell 0.5%. Stocks are facing weekly losses after a handful of volatile sessions that saw tech shares fall, with artificial intelligence-focused chip stocks bearing the brunt. Investors are moving away from the heavyweight tech companies that fueled the recent rally toward smaller-cap companies, which some see as benefiting more from interest rate cuts. Semiconductor stocks continued to sell off, with Nvidia (NVDA) expected to lose about 8% this week. In the early hours of the morning, investors were assessing the potential impact of an “unprecedented” failure of computer systems around the world that has grounded flights and hit banks, telecoms, media companies and more.

https://www.lankatimes.com/stocks-fell-on-track-for-sharp-weekly-losses-for-the-sp-500-and-nasdaq/

News Article Image Stocks fell on track for sharp weekly losses for the S&P 500 and Nasdaq.

$1000 Invested In This Stock 5 Years Ago Would Be Worth $5,900 Today - Riot Platforms ( NASDAQ:RIOT )

Riot Platforms RIOT has outperformed the market over the past 5 years by 28.52% on an annualized basis producing an average annual return of 41.59%. Currently, Riot Platforms has a market capitalization of $3.32 billion.

https://www.benzinga.com/insights/news/24/07/39845888/1000-invested-in-this-stock-5-years-ago-would-be-worth-5-900-today

News Article Image $1000 Invested In This Stock 5 Years Ago Would Be Worth $5,900 Today - Riot Platforms  ( NASDAQ:RIOT )

Riot Platforms, Inc. Price History

23.06.2024 - RIOT Stock was up 5.2%

  • RIOT stock experienced a significant increase in value, closing at $12.24, marking a +1.75% move from the previous day.
  • The bullish movement in RIOT could be attributed to the overall positive sentiment in the cryptocurrency market, specifically Bitcoin mining stocks.
  • The recent surge in Bitcoin prices, driven by external factors like the assassination attempt on former President Trump, has positively impacted Bitcoin mining stocks, including RIOT.
  • Investors may have been attracted to RIOT due to its strong performance over the past 5 years, outperforming the market and showing an average annual return of 41.59%.

19.06.2024 - RIOT Stock was up 5.1%

  • The positive sentiment towards cryptocurrency mining companies in the market likely contributed to RIOT's bullish movement.
  • Recent news regarding support for Bitcoin from Trump and Vance, along with differing views on central bank digital currencies, may have boosted optimism for cryptocurrencies, indirectly impacting RIOT.
  • Despite bearish options activity on RIOT, the overall positive market sentiment towards cryptocurrencies seemed to overshadow this.
  • Concerns raised regarding RIOT's attractiveness compared to direct Bitcoin investment may have been present, but the general market sentiment towards cryptocurrency-related stocks appeared to drive RIOT's upward movement.

18.06.2024 - RIOT Stock was down 8.6%

  • RIOT's downward movement today may be linked to the overall correction in the cryptocurrency space. RIOT was considered less appealing compared to a direct investment in Bitcoin.
  • High-rolling investors engaged in unusual options activity positioned themselves bearish on RIOT, potentially increasing selling pressure on the stock.
  • RIOT's price performance has been on the rise, with a Relative Strength Rating of 85, hinting at a possible overbought situation. This could have prompted profit-taking and the observed bearish movement.
  • Differing opinions on Bitcoin and central bank digital currencies (CBDCs) between Trump and Vance have potentially introduced uncertainty and volatility in the cryptocurrency market, adversely affecting RIOT's stock.

18.06.2024 - RIOT Stock was down 6.8%

  • RIOT stock experienced a bearish movement possibly due to high-rolling investors positioning themselves bearish on the company, as indicated by unusual options activity.
  • The rise of J.D. Vance, a vice presidential candidate with a strong crypto background and differing views on Bitcoin and CBDCs from Trump, might have added uncertainty and contributed to the negative sentiment surrounding RIOT stock.
  • Despite Riot Platforms showing a rising price performance recently, with an increase in Relative Strength Rating, the bearish movement today could be a short-term correction influenced by the overall market sentiment towards the company.
  • The focus on DeFi stocks disrupting the banking sector might have shifted investor attention away from traditional cryptocurrency mining companies like RIOT, impacting the stock's performance negatively.

16.06.2024 - RIOT Stock was up 12.5%

  • RIOT and other crypto-related stocks, such as Coinbase and MicroStrategy, saw significant bullish movement today.
  • This surge in crypto stocks is buoyed by the positive sentiment in the cryptocurrency market, fueled by Bitcoin's recent rise to a two-week high.
  • The recent incident involving Donald Trump has unexpectedly bolstered his influence in the crypto sphere, sparking speculations on his potential impact on digital currencies.
  • Investors are flocking to the crypto market, banking on Trump's rumored support for cryptocurrencies, leading to a spike in stocks like RIOT.

15.06.2024 - RIOT Stock was up 12.4%

  • Riot Platforms (RIOT) has surged today, similar to other crypto stocks like Coinbase and MicroStrategy, following Bitcoin's rally.
  • The rise in Riot Platforms' value can be linked to Bitcoin's price surpassing $63,000 after 12 days, renewing interest from institutional investors in the United States.
  • Amid the ongoing battle between Bitcoin bulls and bears over its current value, Riot Platforms (RIOT) is benefiting from the optimistic overall market sentiment in the crypto space.
  • Investors are drawn to Riot Platforms (RIOT) due to its considerable growth potential as a Bitcoin mining company, seeking to leverage the favorable market conditions.

15.06.2024 - RIOT Stock was up 5.1%

  • RIOT experienced a strong bullish movement today, closing higher than the previous trading day.
  • The bullish movement in RIOT can be attributed to the overall positive trend in Bitcoin mining stocks, including other companies in the sector, as Bitcoin surged past $63,000.
  • U.S. institutional investors have resumed purchasing Bitcoin after weeks of sell-offs, contributing to the bullish sentiment in the market.
  • The bounce back in Bitcoin prices has led to increased strength in Bitcoin mining stocks like RIOT, indicating a positive outlook for the sector in the short term.

12.06.2024 - RIOT Stock was up 5.3%

  • RIOT experienced a bullish movement today, potentially driven by the positive sentiment in the Bitcoin market.
  • The rise in Bitcoin prices could have contributed to the increase in RIOT's stock value, as it is involved in Bitcoin mining.
  • The unusual options activity indicating a bullish stance on RIOT by investors with significant capital might have also influenced the stock's upward movement.
  • Overall, the combination of the positive Bitcoin market sentiment and the bullish stance of investors could have propelled RIOT's strong performance today.

11.06.2024 - RIOT Stock was up 5.4%

  • RIOT's bullish movement today can be attributed to the announcement of Bitfarms appointing Ben Gagnon as its new CEO amidst a takeover bid from Riot Platforms. This news could have sparked investor optimism and confidence in RIOT's future prospects.
  • The proposal by Riot Platforms to improve Bitfarms and the strategic moves being made in the cryptocurrency mining industry might have created a ripple effect, positively impacting RIOT's stock performance.
  • The focus on high-growth stocks trading at a low P/E ratio as discussed by market analysts could have also influenced investor interest in RIOT, considering its position in the cryptocurrency sector which is known for its high-growth potential.
  • Overall, the strategic developments within Bitfarms, coupled with the broader positive sentiment towards cryptocurrency-related stocks, likely contributed to RIOT's bullish movement today.

09.06.2024 - RIOT Stock was down 5.5%

  • RIOT experienced a bearish movement as news of Bitfarms appointing a new CEO amidst Riot's takeover bid created uncertainty and potential instability in the company.
  • Riot Platforms proposing a comprehensive plan to improve Bitfarms could have added pressure on RIOT's stock, as investors may have concerns about the outcome of this proposal.
  • The ongoing battle for control between Bitfarms and Riot Platforms, with the appointment of Ben Gagnon as CEO and Riot's attempt to acquire Bitfarms, might have led to a lack of confidence in RIOT's future prospects, resulting in the bearish market movement.
  • The strategic review process and the focus on maximizing shareholder value by Bitfarms could have further fueled the negative sentiment around RIOT, contributing to the downward trend in the stock price.

08.06.2024 - RIOT Stock was down 5.8%

  • RIOT stock experienced a bearish movement today.
  • The launch of Riot's ABetterBitfarms website and the company's involvement in a failed hostile takeover of Bitfarms might have caused some uncertainty among investors, leading to the bearish trend.
  • The consideration of a merger by Bitcoin mining company TeraWulf to boost profit margins could have also impacted RIOT's stock negatively, as it indicates potential consolidation in the industry.
  • The overall decline in Bitcoin's price could have contributed to the bearish movement of RIOT stock, as it is closely tied to the performance of the cryptocurrency market.

05.06.2024 - RIOT Stock was up 5.1%

  • RIOT had a strong bullish movement today despite the overall bearish trend in Bitcoin's price.
  • The dip in Bitcoin's price below $56,000 led to a fall in Bitcoin mining stocks, including RIOT.
  • The movement of a large amount of Bitcoin by Mt. Gox from a cold wallet to a new wallet might have caused uncertainty in the market, impacting Bitcoin's price.
  • Despite the bearish sentiment in the cryptocurrency market, RIOT's bullish movement could be attributed to specific company-related factors or investor optimism about its future prospects.

03.06.2024 - RIOT Stock was down 5.1%

  • RIOT experienced a bearish movement likely due to the pullback in Bitcoin mining stocks like Marathon Digital Holdings Inc (MARA) after a recent rise in Bitcoin prices.
  • The decrease in selling volume by Bitcoin miners, as indicated by on-chain data, could have resolved concerns but might have also led to profit-taking in related stocks like RIOT.
  • The overall negative sentiment towards tech stocks, with warnings to dump certain companies, could have influenced traders to sell off RIOT as part of a broader tech stock tumble.
  • Despite the bearish movement, the potential for RIOT to bounce back remains if Bitcoin prices continue to rise and short-squeeze opportunities materialize in the market.
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Disclaimer
Morpher is not liable for the content of the AI investment insights. Like most GPT-powered tools, these summaries may contain AI hallucinations and inaccurate information. Morpher is not presenting you with any investment advice. All investments involve risk, and the past performance of a security, industry, sector, market, or financial product does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. These summaries do not constitute investment advice.