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Riot Platforms’ Stock Fluctuates Amid Bitcoin’s Record Surge: Is Opportunity Knocking?

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Written by Timothy Sykes Reviewed by Jack Kellog Fact-checked by Ellis Hobb
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Riot Platforms Inc.’s shares rose following favorable investor sentiment around blockchain advancements and its strategic positioning within Bitcoin mining. On Friday, Riot Platforms Inc.’s stocks have been trading up by 4.34 percent.

Highlights from the Latest Market News

  • In October, Riot Platforms saw its Bitcoin production shoot up by 23% to 505 Bitcoins, thanks to improved operational efficiency.
  • A notable meeting in New York on Nov 18 could shape the competitive landscape, as hosted by prominent firm, B. Riley.
  • As Bitcoin soars to an all-time high of nearly $90K, Riot Platforms, alongside other cryptocurrency stocks like MARA and COIN, benefits significantly.
  • Recent challenges with market forecasts for Riot and competitors like Cipher Mining are attributed to network difficulties.
  • Riot Platforms joins a wave of influence as the crypto market seeks regulatory relief with the new Trump administration.

Candlestick Chart

Live Update at 17:03:25 EST: On Friday, November 15, 2024 Riot Platforms Inc. stock [NASDAQ: RIOT] is trending up by 4.34%! Discover the key drivers behind this movement as well as our expert analysis in the detailed breakdown below.

Quick Overview of Riot Platforms Inc.’s Financial Health

Riot Platforms Inc.’s recent performance paints an intriguing picture of highs and lows. Its Bitcoin production has surged, reflecting a robust operational boost. The recent earnings report, however, unfolds a different tale with a net income deficit and noticeable losses in key financial metrics. This strange duality of performance invites both caution and optimism, much like navigating a maze where an exciting treasure could be just around the corner.

Key ratios spell out its hurdles starkly: a gross margin of 26.1%, yet with profitability margins sinking into negatives, like the profit margin standing at -69.46%. The company’s decision to enhance mining capacities, evidenced by a hash rate increase and new miner deployments, could lead to greener pastures eventually. Despite adversity, RIOT’s swift recovery maneuvers in Bitcoin mining impacts its stock favorably, mirroring Bitcoin’s recent bullish behavior.

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The financial strength is underscored by a robust current ratio of 5.7, a promising sign for short-term liquidity, whereas the quick ratio further bolsters this assurance. Yet, with revenues around $280M and loss-making price-to-cash metrics, the company treads on a thin line between peril and potential.

Deciphering RIOT’s Recent Market Movement

Imagine a see-saw where Riot Platforms juggles between flourishing productivity and a drop in financial expectations. The surge in Bitcoin prices acts as a double-edged sword. A blessing, boosting market value and enthusiasm, yet, it stirs volatility—a reminder of how tightly crypto stocks cling to Bitcoin’s whims.

Production rises sharply with new advancements and operational strategies at play. This uptick reflects positively on Riot’s ability to expand, signifying potential market share acquisition. On another front, failures to meet market expectations, as cited with Cipher Mining, echo a puzzle piece that’s yet to fit smoothly.

Meeting dynamics cast a speculative shadow. Investors, both optimistic and skeptical, await the aftermath of the pivotal New York meeting. Strategic discussions and alliances formed here could potentially realign Riot’s trajectory. Backdrop adjustments in the regulatory spectrum, with Riot lobbying alongside industry moguls, underline the strategic moves necessary for sustaining growth.

Conclusion: Opportunity Awaits Amidst Volatility

In an investment world that’s akin to a bustling bazaar, where every turn introduces new prospects and risks, Riot Platforms represents a captivating choice. Enthralling yet unpredictable, it melds the complexities of energy-intensive Bitcoin mining with modern financial strategies. This dualism propels it into discussions as a potential buy, for those who can bear the stormy tides of crypto turmoil. Whether Riot Platforms holds the key to future profit continues to spur spirited debates. Investors need to ponder if they’re ready to hop on this roller coaster, an investment ride certain to evoke thrills of financial adventure.

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* Results are not typical and will vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here

The available research on day trading suggests that most active traders lose money. Fees and overtrading are major contributors to these losses.

A 2000 study called “Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors” evaluated 66,465 U.S. households that held stocks from 1991 to 1996. The households that traded most averaged an 11.4% annual return during a period where the overall market gained 17.9%. These lower returns were attributed to overconfidence.

A 2014 paper (revised 2019) titled “Learning Fast or Slow?” analyzed the complete transaction history of the Taiwan Stock Exchange between 1992 and 2006. It looked at the ongoing performance of day traders in this sample, and found that 97% of day traders can expect to lose money from trading, and more than 90% of all day trading volume can be traced to investors who predictably lose money. Additionally, it tied the behavior of gamblers and drivers who get more speeding tickets to overtrading, and cited studies showing that legalized gambling has an inverse effect on trading volume.

A 2019 research study (revised 2020) called “Day Trading for a Living?” observed 19,646 Brazilian futures contract traders who started day trading from 2013 to 2015, and recorded two years of their trading activity. The study authors found that 97% of traders with more than 300 days actively trading lost money, and only 1.1% earned more than the Brazilian minimum wage ($16 USD per day). They hypothesized that the greater returns shown in previous studies did not differentiate between frequent day traders and those who traded rarely, and that more frequent trading activity decreases the chance of profitability.

These studies show the wide variance of the available data on day trading profitability. One thing that seems clear from the research is that most day traders lose money .

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Citations for Disclaimer

Barber, Brad M. and Odean, Terrance, Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors. Available at SSRN: “Day Trading for a Living?”

Barber, Brad M. and Lee, Yi-Tsung and Liu, Yu-Jane and Odean, Terrance and Zhang, Ke, Learning Fast or Slow? (May 28, 2019). Forthcoming: Review of Asset Pricing Studies, Available at SSRN: “https://ssrn.com/abstract=2535636”

Chague, Fernando and De-Losso, Rodrigo and Giovannetti, Bruno, Day Trading for a Living? (June 11, 2020). Available at SSRN: “https://ssrn.com/abstract=3423101”