Things to Keep in Mind Before Buying Riot Stock

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Riot stock is a popular choice for Active and Vanilla ETFs. Most of the time, it belongs to the Broad-based ETF category. In the past 12 months, it has outperformed the market. However, there are some risks associated with buying Riot stock. Here are some things to keep in mind before buying it.

Riot’s market cap is calculated by multiplying the current stock price by the number of outstanding shares. It has 154,536,152 outstanding shares. Investors are paying nearly 3x more than Riot is worth. In addition, Riot is trading at a 2.77 Price to Sales (P/S) ratio compared to Marathon Digital’s 7 P/S ratio.

When trading RIOT, investors should know the stock’s support and resistance levels. The support level is $6.36 while the resistance level is $7.32. Based on volatility, RIOT stock has a 67% chance of trading within this range. Once the stock reaches the support level, it will likely continue its upward trend.

Riot Blockchain, Inc., is a cryptocurrency mining company that focuses on developing, operating, and supporting blockchain technologies. Blockchain is a distributed, encrypted ledger designed to provide a permanent and secure way to store information. Some of the company’s projects include Verady, Tesspay, and Coinsquare.

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