Bill Gross warns on gold momentum as regional bank stocks tumble
Riot Platforms stock reached a significant milestone, hitting a 52-week high of 22.96 USD. With a market capitalization of $8 billion and a beta of 4.63, the stock shows significant volatility compared to the broader market. This marks a notable achievement for the company, reflecting a strong performance over the past year. Riot Platforms has experienced a remarkable 159.93% increase in its stock price over the last 12 months, backed by impressive revenue growth of 93.46%, underscoring investor confidence and robust market interest in the company’s operations. The surge to this 52-week high highlights the stock’s upward trajectory and positions Riot Platforms as a compelling player in its sector. InvestingPro analysis reveals technical indicators suggesting overbought conditions, with 18 additional exclusive ProTips available for subscribers.
In other recent news, Riot Platforms reported the production of 445 Bitcoin in September, marking a 7% decrease from August but an 8% increase compared to the same month last year. The company sold 465 Bitcoin during September, generating $52.6 million in net proceeds at an average price of $113,043 per Bitcoin. As of the end of September, Riot held 19,287 Bitcoin, including 3,300 in restricted holdings, reflecting an 85% increase from its holdings in September 2024. In addition, Cantor Fitzgerald raised its price target for Riot Platforms to $26, maintaining an Overweight rating, following the company’s Bitcoin sales. Meanwhile, JPMorgan upgraded Riot Platforms from Neutral to Overweight, increasing its price target to $19, citing the company’s installed scale and potential for hashrate expansion. Riot Platforms also reported producing 477 Bitcoin in August, a 48% increase compared to the previous year, despite a slight decrease from July’s output. These developments highlight Riot Platforms’ ongoing production capabilities and strategic positioning in the Bitcoin mining industry.
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