RIOT Stock Price Increases Over 8%: Why It Happened

By Amit Chowdhry ● Jun 29, 2021
  • The stock price of Riot Blockchain Inc (NASDAQ: RIOT) increased by over 8% during intraday trading. This is why it happened.

The stock price of Riot Blockchain Inc (NASDAQ: RIOT) increased by over 8% during intraday trading. Investors are responding positively to the price of Bitcoin increasing over $35,000 again.

The price of Bitcoin is trending upwards due to Morgan Stanley buying over 28,000 shares of Grayscale Bitcoin Trust through its Europe Opportunity Fund. And there are reports that Cathie Wood’s ARK Invest is planning to launch a Bitcoin-themed ETF.

Riot Blockchain is a company that focuses on cryptocurrency mining operations. And the company operates thousands of miners.

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