Investors gave Riot Blockchain’s (RIOT) quarterly results a thumbs down as the stock slid 23.9% in the past five days following its Q3 results, and a fall in Bitcoin prices. The Bitcoin mining company’s loss widened from $0.04 per share to $0.16 per share in Q3. Analysts were expecting a profit of $0.35 per share. However, RIOT’s Q3 total revenues soared by 2,532 percentage points to a record $64.8 million. Bitcoin production jumped 482% year-over-year to 1,292 bitcoins versus 222 BTC in the same period a year back. While investors seem to be unimpressed with the rise in BTC production and revenues, BTIG analyst Gregory Lewis had a different take.
https://www.tipranks.com/news/article/why-analysts-remain-bullish-on-riot-blockchain?utm_source=advfn.com&utm_medium=referral
Riot Blockchain (NASDAQ:RIOT)
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