Why Riot Blockchain Trounced the Market Today
The fortunes of Riot Blockchain (NASDAQ: RIOT) are intimately tied to the asset the company actively produces, Bitcoin (CRYPTO: BTC). With Bitcoin's gains on Tuesday, guess which of the cryptocurrency's more prominent miners rose in tandem? Riot's share price closed the day nearly 6% higher on its foundational-crypto's improvement.
Bitcoin was trading pretty nicely throughout the day. As of early Tuesday evening, it was up slightly more than 1%, so investors were feeling rather good about Riot.
The latter's upward share-price move was almost entirely due to this. Outside of the voting results of a not-very-exciting annual general meeting, the company had nothing else of note to report about its operations.
Source Fool.com
