Riot BlockchainNASDAQ: RIOT

Riot Platforms, Inc. (RIOT) closed at $9.20 in the latest trading session, marking a -0.11% move from the prior day.

Viking Therapeutics and Riot Platforms are two speculative investments analysts are bullish on. Viking doesn't have an approved product yet but VK2735 has been demonstrating encouraging results in clinical trials.

The Bitcoin halving event in April has reduced mining rewards by half, impacting all Bitcoin miners, including Riot Platforms. The 2020 halving forced inefficient miners out of the market, benefiting high-efficiency miners like Riot by increasing their share of total rewards.

Riot Platforms (RIOT) falls after Kerrisdale Capital announces a short position. Kerrisdale Capital's report states that “Bitcoin mining is among the worst business models for a public company we have ever encountered.

Riot Platforms, Inc. (RIOT) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.

Riot Platforms stock (NASDAQ NASDAQ : RIOT), a Bitcoin Bitcoin mining company, trades at $11 per share, about 86% below its peak level of $78 seen in January 2021. RIOT stock was trading at around $4 in early June 2022, just before the Fed started increasing rates, and is now 160% above that level, compared to a 40% gain for the S&P 500 during this period.

The performance of Riot Platforms, Inc. (RIOT) in the quarter ending March 2024 can be better understood by comparing its key metrics to both Wall Street estimates and the previous year's results.

Riot Platforms, Inc. (RIOT) reported quarterly earnings of $0.81 per share, surpassing the Zacks Consensus Estimate of a loss of $0.21 per share. This is an improvement from earnings of $0.04 per share in the same quarter last year.

There are expectations for Riot Platforms (RIOT) to have a strong revenue performance in the first quarter of 2024, although profits are anticipated to decrease.