Crypto-Follow logo Crypto-Follow logo
TipRanks 2022-05-02 15:11:20

With Significant Growth Potential, Riot Blockchain Seems Undervalued

The first four months of 2022 have been challenging for the cryptocurrency industry. Bitcoin has struggled around the $40,000 level. It's therefore not surprising that Bitcoin mining stocks have also trended lower. For investors who are bullish on Bitcoin, the correction provides a good opportunity for exposure. Among Bitcoin miners, Riot Blockchain (RIOT) seems to be attractively valued. RIOT stock has plunged by almost 75% in the last 12 months. Besides the downtrend in Bitcoin, another key reason for the sharp sell-off is equity dilution. However, I believe that RIOT stock looks undervalued at current levels of $10.40.

#
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer