Riot Blockchain, Inc., together with its subsidiaries, focuses on building, supporting, and operating Blockchain technologies. It is involved in digital currency mining operations, which utilizes specialized computers that generate digital currency primarily bitcoin. The company also holds interests in various activities, including purchasing and selling digital currencies; provides accounting, audit, and verification services for blockchain-based assets, such as digital currencies; and develops TessPay, a payments ecosystem for component and sub-component supply chain settlement solution, as well as other blockchain solutions for telecommunications companies. As of December 31, 2018, approximately 7,731 of the miners were installed and operating. The company was formerly known as Bioptix, Inc. and changed its name to Riot Blockchain, Inc. in October 2017. Riot Blockchain, Inc. was founded in 2000 and is based in Castle Rock, Colorado. Any additional value-added info on this company...
There's no value to add Rainman. Don't touch this thing. It has a $45 Million Dollar market-cap. Last quarter they had $1.7 in revenue... and lost $29.5Million in 2019. That's all you need to know. If you get an alert about this thing on TWTR or FB... or whatever you're looking at (like bs stock websites)... just know dude its a bs pump and dump.... these penny stocks do it all the time. Your alert goes out to all the suckers. It'll be some kind of BS news about the company.
? cued to 5:07 5:07 Research key data on the stock (float, market cap, institutional ownership) 6:56 Reading SEC filings for penny stocks (especially for biotech stocks)
They just installed 5000 of these https://www.asicminervalue.com/miners/bitmain/antminer-s17-pro-53th in OKC. I checked industrial electric rates there. $0.056/KWH. That means each one is going to generate (at today's BTC price) $1500/year. So $7.5 M/year. The lease on the facility is $2.4Million/year. They had $7.1M in SG&A costs in 2019.
The only reason I'm giving this thread any time is because its an interesting stock. Not from the standpoint of the company... its interesting because of how it's moved in the past. Since I don't work for a hedge-fund, news outlet, or anything else.... I can say this. Its a f'ing study in stock price manipulation. This is not the first time its been mentioned on ET btw. I'll look. And note... just because a stock is a paper tiger tiger and basically a total worthless long term investment, doesn't mean huge money can't be made near term at the expense of fools. And that's the name of the game really. Bearing that in mind.... thank you for reviving this pig's story. More to follow. It is heading north for now. Just remember percentages. A $1.60 stock moving up to $1.90 is the exact same thing as a $160 stock moving up to $190. And that would be on CNBC with talking heads banging their heads. All with an opinion. I think that's what a lot of penny stock traders miss. Dig up son.... You don't need a YouTube video.... you need to look at stocks as if you were buying a lemonade stand. Aside from that... ("that" being you looking at company for how much it makes and what lies ahead in its future).... you are trying to game stock manipulation.... and odds are, you will lose that game, in a big way. You have to spot it before it happens. Reference my $SPCE thread. They don't make any money either. But we knew the game now didn't we?
that gonna be enough? lol gonna back up the truck? i don't trade stocks, but this one might be one where a trader would want to be kinda quick-intra about it, lol. cheers
pure crypto play. OSTK is heading that way. Just buy the coins instead, unless you want to gamble w/your IRA
Exactly, you are 100% right. As far as I can tell, its a 100% pure-play now. Far better to buy the coins if you think its going up. With this stock you're paying tons for bloated overhead. Why would anyone? Like you said... IRA I guess.
i don't trade stocks not about to take an entry trigger on riot Aside from garden variety risks that come part and parcel to any stock out there, what dangers lurk in the trade illustrated here due to the fact that it would have been in that particular stock - riot? Understandable ya wouldn't want to get married to it, but it might be fun for a morning jaunt, worth in this case 12% in 4 hours. what are the drawbacks to a trade like that with a company like this? should i wear a filter mask?