Constant

Million

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>NASDAQ: RIOT stock lost 6.83% of its trading price on August 24.&nbsp;</a> </li> 
 <li> <span>2</span> <a>On August 25, RIOT Platform, Inc. stock opened a few percent below its previous closing price.&nbsp;</a> </li> 
 <li> <span>3</span> <a>In the 52-week time frame, RIOT stock traded highest at $20.65 and its lowest trading price at $3.25.</a> </li> 
</ul> 
<p>NASDAQ: RIOT stock lost 6.83% of its trading price on the August 24 trading session; it opened trading at $11.06, lowering to $10.20 it hit a high of $11.07 and closed trading at $10.36 with an intraday trading volume of 12.899 Million.&nbsp;</p> 
<p>On August 25, RIOT Platform, Inc. stock opened a few percent below its previous closing price with a trading volume of 6.961 Million, reflecting the majority of sellers. Since the past few trading sessions, significant selling volume has been reflected.&nbsp;</p> 
<p>In the 52 weeks, RIOT stock traded highest at $20.65 and its lowest trading price at $3.25. Riot Platform, Inc. has a market capitalization of $1.899 Billion and its stock average trading volume is 16.179 Million.&nbsp;</p> 
<p>At press time, RIOT stock was below its annual price target of $19.44; the current prices are 89.15% below its price target. Since August 14, constant selling pressure has dragged the stock price downward.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-riot-stock-price-analysis-strong"><strong>RIOT Stock Price Analysis&nbsp;</strong></h2> 
<p>After analyzing the technical aspects of RIOT stock, it is noted that constant selling volume has troubled the stock price. In the past week, Riot Platform, Inc. stock lost 7.91% of its trading volume, and in the monthly time frame, the stock price slipped over 43.21%.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/rwbE-iUcL4XsWj9KWTx4ayyFaWe9Y-KM0pt-U0GRhKfjuPv_W27hNTijrnTl1zxD393EgIg9-UTwgHGYjp8lIZ14ucOYjevnZgpo_tDtssnILp0U6YdgfzIO5V-bvxXwba0v1XO_DQa1VtplV9XY588" alt="RIOT Stock Lost Over 43%; Constant Selling Volume Troubling Prices&nbsp;"> 
  <figcaption class="wp-element-caption">
    Source: RIOT stock price chart from TradingView&nbsp; 
  </figcaption> 
 </figure> 
</div> 
<p>If sellers continued their dominance over buyers, then there are possibilities that RIOT stock price might face immediate support of $8.74 and possibly next support of $7.08. If buyers succeed in overruling sellers, then there are possibilities that mining stock is likely to surge and face immediate resistance of $11.33 and next resistance of $13.46.&nbsp;&nbsp;&nbsp;&nbsp;</p> 
<p>Riot Platform, Inc. stock was trading below the 50-day and 200-day exponential moving average at the time of publishing.&nbsp;</p> 
<p>According to TradingView, 175.208 Million RIOT shares are free-floating, and the remaining 10.098 Million shares are closely held by the company’s financial backers or the board of directors.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-riot-platform-inc-earnings-revenue-strong"><strong>Riot Platform, Inc. Earnings &amp; Revenue&nbsp;</strong></h3> 
<p>In Q1 2023,<a href="https://www.thecoinrepublic.com/2023/08/10/riot-platforms-released-q2-2023-produced-over-1700-bitcoins/" rel="noopener noreferrer nofollow"> Riot Platform, Inc. </a>was supposed to report $78.80 Million in revenue; however, it depressed its investors and reported 4.68% less revenue than estimated figures. Similarly, in Q2, the company was expected to report $84.64 Million in revenue, but its reported revenue reflected a steep decline of 9.38%.&nbsp;</p> 
<p>Earnings per share in Q1 2023, reflected a massive decline, and the reported EPS of the company was 129.21% less than the estimated EPS. Despite negative revenue in Q2, the EPS of the company reflected a profitability of 14.83%.&nbsp;</p> 
<p>In the financial year 2022, the company reported $259.20 Million in revenue from which its gross profit was -16%, earnings before interest, taxes, depreciation, and amortization (EBITDA) was 4%, earnings before interest and taxes (EBIT) was -42%, and its net income was -197%.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Major support: $8.74 and $7.08</p> 
<p>Major resistance: $11.33 and $13.46</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/08/10/riot-platforms-released-q2-2023-produced-over-1700-bitcoins/" rel="noopener noreferrer nofollow">Riot Platform, Inc</a>. is a crypto mining company whose stock has reflected a constant decline and an increased selling volume. Since the past few trading sessions, an immense selling volume has troubled the trading price of RIOT stock. As per the analyst, the declining pattern of RIOT shares seems to be long-term, with fewer chances of revival.&nbsp;&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Disclaimer&nbsp;</strong></h5> 
<p>The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

RIOT Stock Lost Over 43%; Constant Selling Volume Troubling Prices

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Thecoinrepublic.com

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