Want to Buy Riot Blockchain Inc (NASDAQ: RIOT) Stock? See This First.

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Riot Blockchain focuses on supporting Bitcoin ecosystems, ensuring the ecosystem is efficient and productive. As one of the largest U.S.-based publicly-traded Bitcoin miners in North America, the firm can easily increase in value as its processes improve.

Step 1: Open up a brokerage account.

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Your budget tells you how much you can spend. If you do not have a budget, you might overspend without knowing it.

Check the volatility of the market, the stock and the industry.

Review current events, making sure this is the right time to buy or sell. Sometimes, the news tells you exactly what you need to do.

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Step 4: Execute your trade.

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RIOT History

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Riot Blockchain’s (RIOT) Forecast in 2021: Is It a Good Stock to Buy?

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Riot Blockchain (RIOT) stock has gained nearly 20 percent in the premarket trading session on July 26. The stock is on many investors' radars due to its rising short interest. What’s RIOT’s stock forecast and how high can it go as Reddit traders attempt another short squeeze?

Riot Blockchain focuses on cryptocurrency mining operations in the U.S. The company is mainly focused exclusively on Bitcoin mining.

Riot Blockchain and Marathon Digital both jumped 18 percent in the premarket session on July 26. Cryptocurrency mining peers including Bitfarms, Bit Digital, and Hive Blockchain also gained.

On July 26, shares of cryptocurrency mining companies surged significantly as investors reacted positively to the price of Bitcoin rising. Bitcoin surged over $38,000 for the first time in six weeks. One of the reasons why Bitcoin’s price is rising is due to speculation that Amazon could start accepting the cryptocurrency by the end of 2021.

According to estimates compiled by CNN, analysts' median target price is $48 for RIOT stock, which is 44 percent above its current price. The highest target price of $49 is 47 percent above the stock’s current price, while the lowest target price of $40 is 20 percent above the stock’s current price. Currently, RIOT stock is being tracked by three Wall Street analysts. All three of the analysts have a buy recommendation.

RIOT stock is among the most mentioned stocks on Reddit’s WallStreetBets community. The stock has a short interest ratio of 24 percent. If Redditors can get their act together, the high volume of bearish bets appears to be good enough to trigger a short squeeze in RIOT stock. One Reddit user mentioned that RIOT stock is worth a minimum of $40 per share.

It’s difficult to predict how high RIOT stock could go in the near term since the share price is impacted by investor sentiments and short squeezes. Among brokerages, RIOT’s highest target price is $49.

RIOT stock is a good investment, but not at this price.

In June, RIOT mined 243 Bitcoin tokens in its Texas and New York mining facilities, which brought the total number of new tokens to 1,167 in the first six months of 2021. As of July 19, the company held a total of 2,243 tokens worth roughly $69 million. RIOT intends to double its mining capacity by the end of 2022.

The company has zero long-term debt and nearly $240 million in cash and cash equivalents. Overall, the outlook looks promising. Consumers and retail investors are becoming more familiar with some of the most popular digital currencies.

RIOT Stock Increases Over 18% Pre-Market: Why It Happened

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The stock price of Riot Blockchain Inc (NASDAQ: RIOT) increased by over 18% pre-market. This is why it happened.

The stock price of Riot Blockchain Inc (NASDAQ: RIOT) increased by over 18% pre-market. Investors are responding positively to the price of Bitcoin increasing. Riot Blockchain is a company that focuses on cryptocurrency mining operations in North America.

As of 4:45 AM ET today, the prices of bitcoin, ethereum, and dogecoin all increased over 7% over the past 24 hours. Bitcoin hit a new six-week high price of $38,680 as of this morning.

One of the reasons why the price of bitcoin is increasing is due to rumors that Amazon could begin accepting the cryptocurrency at the end of this year.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.

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