What's Going On With Riot Shares Friday?
Portfolio Pulse from Dylan Berman
Riot Platforms, Inc. (NASDAQ:RIOT) shares are down amid a decline in Bitcoin prices. Riot's stock is trading below its 50-day moving average and near the lower end of its 52-week range. The company reported worse-than-expected earnings for Q2 2024, leading to price target adjustments from several analysts. Other crypto-linked stocks like MicroStrategy Inc. (NASDAQ:MSTR) are also trading lower.
August 02, 2024 | 6:07 pm
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NEGATIVE IMPACT
MicroStrategy shares are also trading lower due to the decline in Bitcoin prices. The company's stock is closely linked to Bitcoin's performance.
MicroStrategy's stock is heavily influenced by Bitcoin prices due to its significant Bitcoin holdings. The current decline in Bitcoin has led to a drop in MicroStrategy's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
Riot Platforms shares are down due to a decline in Bitcoin prices and worse-than-expected Q2 earnings. The stock is trading below its 50-day moving average and near the lower end of its 52-week range. Analysts have adjusted their price targets following the earnings report.
Riot's stock is directly impacted by Bitcoin prices and its own earnings performance. The recent decline in Bitcoin and the company's poor earnings report have led to a significant drop in its stock price. Analysts' price target adjustments further highlight the negative sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100