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