What's Going On With Bitcoin-Related Stock Riot Platforms?
Portfolio Pulse from Henry Khederian
Riot Platforms Inc's shares are trading higher by 4.5% amid an increase in the price of Bitcoin. The company, which is involved in Bitcoin mining, sees increased revenue from its mining operations when the price of Bitcoin rises. Traders and investors are anticipating the outcome of the upcoming Federal Reserve’s Federal Open Market Committee (FOMC) meeting, which will determine benchmark interest rates.
September 18, 2023 | 5:33 pm
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Riot Platforms Inc's stock is trading higher due to the increase in Bitcoin price. The upcoming FOMC meeting could further impact the stock.
Riot Platforms Inc's stock price is directly influenced by the price of Bitcoin due to the company's involvement in Bitcoin mining. The upcoming FOMC meeting could impact the interest rates, which in turn could affect the Bitcoin price and consequently Riot's stock price.
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