Trade Riot Blockchain (RIOT) Stock Only If You Are Risk Aggressive Trader

The continued growth in the cryptocurrency space has led to considerable interest in stocks of companies that are involved in the industry.

Trade Riot Blockchain (RIOT) Stock Only If You Are Risk Aggressive Trader

One of the better-known companies in that sector is Riot Blockchain Inc (NASDAQ: RIOT) and yesterday, the stock showed considerable volatility. On Wednesday morning the stock soared by 7% in the morning but ended the day with losses of 15%. One of the reasons behind the rally in the Bitcoin mining stock was due to the rally experienced by Bitcoin yesterday.

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At this point, the company has a market cap of $4.22 billion but there are many who believe that it is overvalued. However, the stock might have corrected yesterday after Citron Research stated yesterday that the stock should be trading at $2 a share. Hence, it seems that there is a certain degree of debate with regards to the Riot Blockchain share price. However, experts believe that it could actually be more than $2.

Richard McEntire

Finance and Entertainment Reporter Richard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.