💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Why Bitcoin-Related Stock Riot Platforms Is Exploding Higher

Published 17/03/2023, 18:42
© Reuters.  Why Bitcoin-Related Stock Riot Platforms Is Exploding Higher
BTC/EUR
-
BTC/USD
-
BTC/EUR
-
BTC/JPY
-
BTC/USD
-
BTC/JPY
-
BTC/GBP
-
BTC/GBP
-

Benzinga - Riot Platforms Inc (NASDAQ: RIOT) shares are trading higher by some 17.2% to $8.26 Friday afternoon. Shares of crypto-related stocks are trading higher amid recent, marked strength in cryptocurrencies.

  • Bitcoin (CRYPTO: BTC) is trading higher by 36.14% to the $26,000-level over the trailing week
  • Ethereum (CRYPTO: ETH) is higher by 25.95% to the $1,700-level over the past week

For the unitiated, Riot is focused on building, supporting and operating blockchain technologies.

Riot also operates as a Bitcoin mining company in North America. Because of this, the stock often moves in sympathy with the price of Bitcoin and the crypto sector.

See Also: Why PacWest Bancorp (PACW) And Western Alliance (WAL) Stock Are Nosediving

According to data from Benzinga Pro, Riot Platforms has a 52-week high of $23.66 and a 52-week low of $3.25.

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.