Hey all! This is my first DD so I’m sorry.
Anyway, on to Riot Blockchain:
A leading blockchain miner in the US with earnings coming up soon (rumor has it Nov 15th after hours courtesy of investorshub and yahoo finance eheh)
They recently had a solid operational update where they mined more BTC than MARA in October:
- In October 2021, Riot produced 464 BTC, an increase of approximately 433% over its October 2020 production of 87 BTC.
- Produced 417.7 self-mined bitcoins during October 2021, increasing total bitcoin holdings to approximately 7,453 with a fair market value of approximately $457.4 million
Riot: 3.5 bil market cap, MARA: 6.5 bil market cap (as of 11/10/21)
Wall street expects growth in earnings: https://www.yahoo.com/now/riot-blockchain-inc-riot-report-190107371.html
They filed for a 600m shelf offering back in late August early September. Rumor has it that the shelf offering will be complete or mostly completed by now and this will show in the earnings report coming up soon. This is bullish because when the dilution is finally over, investors should pile on, but this isn’t confirmed. This shelf offering has supposedly caused the price to lag behind others.
They had a 200m shelf offering which I read in some comment took a month or so to close and was revealed in an earnings report.
Next time I will screenshot these things lol.
There are the risks that comes with earnings reports, especially if the shelf offering is still out and about.
BTC price is a major factor in the price of RIOT.
MACD and STOCHASTIC (weekly)
Both short terms have crossed above the long terms a bit. The MACD is -0.45 for short term (yellow line) and -0.55 for blue.
Triple bottom (weekly):
The price has been going up the first half the week and then going down the second half, but this may change based off other things.
Good luck! As always, I am not a financial advisor and suggest doing your own DD.