We are bullish on Riot Blockchain, Inc $RIOT from $21.95 and will hold as long as price is trading above $32.70 targeting $138.53 within one year.
Riot Blockchain, Inc.( $RIOT ), together with its subsidiaries, focuses on building, supporting, and operating Blockchain technologies ecosystem.
It is involved in digital currency mining operation, 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 cryptocurrencies; 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, 2019, approximately 7,400 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
We have noted the following:
Trailing Twelve Months Return on Assets is currently -15.65% while the Trailing Twelve Months Return on Equity is at -45.07%
Our Risk Model have adjusted our trailing stop to $32.70 thus removing the normal risk.
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