Why Riot Blockchain, Inc Stock Is Soaring on Monday
Shares of Riot Blockchain (NASDAQ: RIOT) are soaring, rising about 22% as of 12:30 p.m. EST. The company's soaring share price follows the launch of CME's bitcoin futures and a short-lived surge in the price of bitcoin over the weekend that valued the digital currency as high as $20,000.
Riot Blockchain is emblematic of the on-going bubble in all things cryptocurrencies. As recently as October, Riot was a struggling biotech company that had operated under several names (most recently, Bioptix). Its SEC filings reveal a lengthy list of past business failures, departed executives and board members, and multiple auditors.
Having largely failed in the medical business, Bioptix announced in an October 4 press release that it would change its name to Riot Blockchain, becoming a "strategic investor and operator in the blockchain ecosystem with a particular focus on the Bitcoin and Ethereum blockchains," according to its press release.
Source: Fool.com
Riot Blockchain Inc. Stock
The community is currently still undecided about Riot Blockchain Inc. with 2 Buy predictions and 0 Sell predictions.
With a target price of 17 € there is a hugely positive potential of 80.29% for Riot Blockchain Inc. compared to the current price of 9.43 €.
