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Riot Platforms Inc.: As Momentum Soars, Is It Set To Thrive Or Dive?

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Written by Timothy Sykes
Reviewed by Jack Kellogg Fact-checked by Ellis Hobbs

Riot Platforms Inc.’s stock surged on Monday, driven by a positive market response to the company’s unveiling of a cutting-edge Bitcoin mining technology, reflecting strong investor confidence despite broader market fluctuations. On Monday, Riot Platforms Inc.’s stocks have been trading up by 9.23 percent.

Key Developments That Impacted Prices

  • Bitcoin’s recent rally with its price approaching $68,000 has fueled optimism, benefiting companies like Riot Platforms that are deeply woven into the crypto market.
  • A remarkable leap in Riot’s Bitcoin production for September, showing a 28% rise from August and a 14% increase over the same month last year, signals improved efficiency.
  • A robust US securities market witnessed upward movement in digital asset index scores and a notable increase in Bitcoin trading volume by 145% at $41.44 billion, positively impacting related stocks.

Candlestick Chart

Live Update at 16:03:47 EST: On Monday, October 28, 2024 Riot Platforms Inc. stock [NASDAQ: RIOT] is trending up by 9.23%! Discover the key drivers behind this movement as well as our expert analysis in the detailed breakdown below.

Riot Platforms Inc.’s Financial Outlook

Riot Platforms has experienced intriguing financial dynamics recently. The company reported an increase in Bitcoin production, achieving a notable 28% growth in September compared to August and an impressive 14% increase year-over-year. This advancement is a considerable feat, rooted in enhancements in their hash rate mastering new heights at 28.2 EH/s and operational uptime reaching 69%. Such achievements place Riot among promising contenders in the BTC mining sector.

Examining Riot’s financial metrics, some vulnerabilities exist. Their EBIT margin stands shockingly at -99.6%, while the EBITDA margin is slightly less negative at -28.8%. It’s a story of climbing revenues but marred by steep operational costs, with revenue striking $280.678M, yet glaring pre-tax profits margins portray the challenge at -86.4%.

The company’s strategic ambition to be a leader in Bitcoin infrastructure is exemplified by new financial moves worth noting. Riot recently arranged a $13.32M purchase of business investments, a decision that, while presenting cash flow struggles, might nurture long-term positioning. Despite a free cash flow of -$96.077M, the company’s current ratio dazzles at 9.7, ensuring ample liquidity to cover short-term liabilities with ease.

More Breaking News

Interestingly, the current stock price shows resilience, sitting at $10.56 after opening the previous day at a lower $10.02. Daily market dynamics fluctuated, echoing broader sentiments in the crypto realm. Market speculations around Riot continue to be fueled by recent changes, including an announcement to discuss their Q3 outcomes on Oct 30, 2024, spotlighting insights into capital investments and their vertically integrated strategy.

Influential Articles On Riot’s Market Movement

Bitcoin’s price momentum isn’t novel, but its recent surge past $68,000, which creates significant ripples. Riot Platforms, alongside industries like COIN, MSTR, and MARA, have benefited from this bullish wave. As Bitcoin’s price climbed, a considerable growth in Bitcoin-related stocks was observed, and Riot’s adaptation to market forces has been integral in capitalizing on these trends.

As Riot Platforms gears up for the Q3 earnings call, stakeholders are on the lookout for insights into new developments and substantial financial decisions. Riot’s gameplan unfolds against a backdrop of rising Bitcoin markets and upticks in asset trading volumes, reflecting the intensified investor interest in the crypto ecosystem.

With Riot’s financial strength underscored by a lush cash reserve of $481.168M, strategic agility seems fortified, though it grapples with tumultuous profit margins and a notable net income loss of $84.449M. Analysts eye Quartet financials abutted on crypto surges can lead to valuations bound by industry dynamics.

The essence of their presence is painted with growth strokes evident in profitability ratios, despite challenges. While EBIT and Net Income wade through the red sea, future potential appears buoyant with strategic navigations in crypto tide pools.

Getting To The Heart Of The Articles

Riot’s fortune in increased Bitcoin production roots from technological prowess and operational optimization. Their Bitcoin output spike presents a concrete work of efficient capital application, aligned with emerging market structures. These operational gains are crucial, enabling Riot to bolster its jittery base financial metrics with prospects for more robust profitability.

The exciting universe of crypto is a dance of digital dexterity and keen foresight. Riot navigates these realms adeptly, strategically entwining itself within bullish crypto waves, leveraging its infrastructure to continually expand hash rate capacities. Consequently, as Bitcoin climbs, not only does market optimism mount, but so does Riot’s aptitude for capturing economic windfalls.

When Riot disseminates the financial nuances of their Q3 data, anticipation brews within stakeholders seeking tangible narratives of growth while tilting at windmills of previous fiscal pains. Questions encircle uncertainties, while Riot bridges these gaps with measurable infrastructure progress. Stakeholders hope it lays down a solid, expansive blueprint for future adventures.

The landscape Riot Platforms explores is volatile, compelling strategic evolution. They invite an audience to witness their submersion into Bitcoin, within a crested wave of crypto expansion, signifying much more than mere surface-level profitability. Each digital asset fluctuation pens a chapter in Riot’s journey—a tale of growth, adaptation, and unyielding pursuit of financial fortitude thriving in the juggernaut that is the digital market.

Note: This summary encapsulates complex financial timelines and interweaves Riot Platforms’ future potential amid broader crypto trends. Keep an eagle eye on Riot’s Q3 data for varied narrative shifts pivotal to their strategic positioning and market engagement.

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Timothy Sykes

Tim Sykes is a penny stock trader and teacher who became a self-made millionaire by the age of 22 by trading $12,415 of bar mitzvah money. After becoming disenchanted with the hedge fund world, he established the Tim Sykes Trading Challenge to teach aspiring traders how to follow his trading strategies. He’s been featured in a variety of media outlets including CNN, Larry King, Steve Harvey, Forbes, Men’s Journal, and more. He’s also an active philanthropist and environmental activist, a co-founder of Karmagawa, and has donated millions of dollars to charity. Read More

* Results are not typical and will vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here

The available research on day trading suggests that most active traders lose money. Fees and overtrading are major contributors to these losses.

A 2000 study called “Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors” evaluated 66,465 U.S. households that held stocks from 1991 to 1996. The households that traded most averaged an 11.4% annual return during a period where the overall market gained 17.9%. These lower returns were attributed to overconfidence.

A 2014 paper (revised 2019) titled “Learning Fast or Slow?” analyzed the complete transaction history of the Taiwan Stock Exchange between 1992 and 2006. It looked at the ongoing performance of day traders in this sample, and found that 97% of day traders can expect to lose money from trading, and more than 90% of all day trading volume can be traced to investors who predictably lose money. Additionally, it tied the behavior of gamblers and drivers who get more speeding tickets to overtrading, and cited studies showing that legalized gambling has an inverse effect on trading volume.

A 2019 research study (revised 2020) called “Day Trading for a Living?” observed 19,646 Brazilian futures contract traders who started day trading from 2013 to 2015, and recorded two years of their trading activity. The study authors found that 97% of traders with more than 300 days actively trading lost money, and only 1.1% earned more than the Brazilian minimum wage ($16 USD per day). They hypothesized that the greater returns shown in previous studies did not differentiate between frequent day traders and those who traded rarely, and that more frequent trading activity decreases the chance of profitability.

These studies show the wide variance of the available data on day trading profitability. One thing that seems clear from the research is that most day traders lose money .

Millionaire Media 66 W Flagler St. Ste. 900 Miami, FL 33130 United States (888) 878-3621 This is for information purposes only as Millionaire Media LLC nor Timothy Sykes is registered as a securities broker-dealer or an investment adviser. No information herein is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. Millionaire Media LLC and Timothy Sykes cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. Millionaire Media LLC and Timothy Sykes in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned in communications or websites. In addition, Millionaire Media LLC and Timothy Sykes accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. This information is not intended to be used as the sole basis of any investment decision, nor should it be construed as advice designed to meet the investment needs of any particular investor. Past performance is not necessarily indicative of future returns.

Citations for Disclaimer

Barber, Brad M. and Odean, Terrance, Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors. Available at SSRN: “Day Trading for a Living?”

Barber, Brad M. and Lee, Yi-Tsung and Liu, Yu-Jane and Odean, Terrance and Zhang, Ke, Learning Fast or Slow? (May 28, 2019). Forthcoming: Review of Asset Pricing Studies, Available at SSRN: “https://ssrn.com/abstract=2535636”

Chague, Fernando and De-Losso, Rodrigo and Giovannetti, Bruno, Day Trading for a Living? (June 11, 2020). Available at SSRN: “https://ssrn.com/abstract=3423101”