Riot Stock News: Riot Blockchain Inc price extends losses despite red hot crypto markets


  • NASDAQ:RIOT fell by 2.53% as NASDAQ stocks took another breather as the choppiness continued.
  • Bitcoin is on the rise again but miner stocks ended Wednesday in the red.
  • A prominent voice in the Bitcoin industry makes a strong proclamation for the future price.

NASDAQ:RIOT had an April to forget, but thus far, May has not been any friendlier to the Bitcoin mining company based out of Castle Rock, Colorado. Wednesday saw another red day for Riot, as the stock fell 2.53% to close the trading day at $36.62. Shares have now lost over 30% during the past month as Riot inches lower towards its 200-day moving average price of $28.71. Generally this can act as a support level for stocks in technical analysis, but it is curious to see Riot struggle even when action in the crypto markets have picked back up.


Stay up to speed with hot stocks' news!


The price of Bitcoin rebounded over the past few days and at the time of this writing, is trading at approximately $57,000 USD per coin. Despite this, Riot and other Bitcoin mining companies like Marathon Digital Holdings (NASDAQ:MARA) were trading lower on the day, perhaps signaling that the share price is moving away from its direct correlation to the price of Bitcoin. Investors are faced with the dilemma of investing in the Bitcoin miners or just buying Bitcoin itself now that it is so readily available. While these companies may artificially rise and fall with the price of cryptos, the underlying strength of Riot and Marathon is still yet to be determined. 

RIOT stock forecast

CoinDesk editor Ollie Leech made headlines by reiterating his stance on Bitcoin’s future price of $1 million per coin. Leech points to the next Bitcoin halving, which is set to take place at some point in 2024, where he predicts a strong price surge due to a lack of supply. How this will affect mining companies like Riot remains to be seen, and investors will be looking to management for some forward looking guidance at its quarterly earnings call next week.  

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD: Teases 21-DMA support inside falling channel

EUR/USD edges lower around short-term support after five-day losing streak. EUR/USD holds lower ground near 1.1835, around the seven-day bottom, amid Friday’s initial Asian session.

EUR/USD News

GBP/USD consolidates above 1.3920 ahead of US NFP data

GBP/USD edges lower on Friday’s Asian trading session. The pair made a high near 1.3950 in the previous session but failed to holds the gains. US Dollar Index stays firm above 92.30 on upbeat economic data. The sterling remains unaffected post- BOE meeting.

GBP/USD News

EUR/USD: Teases 21-DMA support inside falling channel

EUR/USD edges lower around short-term support after five-day losing streak. EUR/USD holds lower ground near 1.1835, around the seven-day bottom, amid Friday’s initial Asian session.

EUR/USD News

ICON looks extremely bullish in the long-term as ICX price targets $3

A brief technical and on-chain analysis on ICON price. Here, FXStreet's analysts evaluate where ICX could be heading next as it looks ready to continue surging.

Read more

US July NFP: Analyzing major pairs' reaction to NFP surprises

NFPs in US is expected to rise by 870,000 in July. There is a strong correlation between surprising NFP prints and major pairs' immediate movements. Investors are likely to react to a disappointing NFP more strongly than a positive reading.    

Read more

Forex MAJORS

Cryptocurrencies

Signatures