Bitcoin-related stocks, ETFs rise as the crypto approaches new record high
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 27 2024
0mins
Should l Buy RIOT?
Source: MarketWatch
- Bitcoin-related Stocks and Funds Rise:
- Bitcoin's price surpasses $57,000, leading to a surge in related stocks and funds.
- Stock Performance:
- Coinbase Global Inc. shares up by 2.5%.
- MicroStrategy Inc. stock rises by 11%.
- Spot Bitcoin ETFs Trading Up:
- Various listed spot bitcoin ETFs show positive gains.
- Performance of Specific Bitcoin Funds:
- Multiple Bitcoin funds see increases in value ranging from 4.8% to 5.5%.
- Bitcoin Miners' Performance:
- Mixed performance among Bitcoin miners on Tuesday with some seeing gains and others experiencing dips in stock prices.
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Analyst Views on RIOT
Wall Street analysts forecast RIOT stock price to rise
9 Analyst Rating
9 Buy
0 Hold
0 Sell
Strong Buy
Current: 24.080
Low
20.00
Averages
27.00
High
42.00
Current: 24.080
Low
20.00
Averages
27.00
High
42.00
About RIOT
Riot Platforms, Inc. is an integrated digital infrastructure company. The Company is principally engaged in developing and optimizing its power assets. Its segments include Bitcoin Mining and Engineering. The Bitcoin Mining segment is engaged in Bitcoin mining activities. The Engineering segment designs and manufacturers power distribution equipment and custom engineered electrical products. This segment also provides electricity distribution product design, manufacturing, and installation services primarily focused on large-scale commercial and governmental customers and serves clients across a range of markets including data center, power generation, utility, water, industrial, and alternative energy. It is also focused on developing a portion of its power capacity for artificial intelligence (AI)/ high-performance computing (HPC) uses. The Company provides electrical engineering services to a customer base of energy developers and data center operators.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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