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Yeah. Better put. Thanks for that. Regulation is the word and just how much of it will there be ? It would mean all the countries of the world would have to agree on how that happens or just ban it totally like China has done. I don't see that for a long time.
Tip Ranks still bullish on Riot. The recent financials were excellent apart from one thing. The shares to employees. $36 million of them. Plus some other stuff. Investors don't like that by hey, it is behind us now. Hope the company doesn't make this a habit though.
The $600 million offering that was hanging around Riot's neck finally got filled as well. It explains why the S/P hung below $30 for months on end. No doubt held down to make sure investors interested got the best deal before Bitcoin moved up. So Riot have $600 million from that and that's behind us too. It diluted the float by 20% or so as I see it.
Now we wait and see what the powers to be do and what Bitcoin does. More governments are afraid of it. Because they don't understand it for one and they lose control of their own currencies and all the manipulation that goes with that. Not to say Bitcoin is not manipulated though. It surely is and perhaps some kind of oversight is not a bad thing. GLA
Correction Time. Bitcoin dropped below support levels so where it goes now, who knows. Bitcoins falling from the tree as it gets shaken as I see it to clear the way for the next big rise.
Riot way over-reacting imo so bargain shopping again soon. Probably been shorted like crazy again.
Might need to put the decimal point over to the right a bit. Like 2 places.
Thanks for all that work dissecting the news yesterday. I am looking long term on this one because it is rooted entirely in Bitcoin. Sure there will be down days to come but the price of Bitcoin should be up as the analysts predict. I think they are very conservative estimates.
This Bitcoin pullback is probably good. A base for the next upsurge. When ? Anyone's guess but looking good for this year. To where ? Crystal ball needed. GL
Exactly. Price of Bitcoin on the assessment date of the quarter. Share price even after it fell this morning is still higher than it should be probably based on current price of Bitcoin though. Lots of investors sell on news however. Just because. And that worked this time. We might see this bounce back up after this news gets absorbed like with Mara.
Next quarter should be better but if the net loss way of doing the books is "arranged" then nothing will change but if Bitcoin is higher still, s/p should be higher ... just because. Sell on news next time ? GL
Seems the consensus on the earnings was not good enough. Typical really. The s/p was pumped up before so had only way to go. I believe this will recover in the coming days/weeks and if the company says something about what the $600 million is for, that would be good. All based on Bitcoin continuing its path to $100K of course or at least holding in this $60K region. GLA
Hey Rayank. I agree with your side on this. The company did release the earnings as you were told so thanks for sharing that with all of us. If they hadn't then like you say, it would tend to indicate something was not right. Don't get put off by one person.
What did you think of the earnings ? I thought they were great even though they are showing a loss. That is what loads of companies do. Loss means no taxes to pay and some companies keep that story going for years all the while growing. This is why the accountants get paid big money. This is what Riot is doing as I see it.
The $600 million was raised after all and we had some more dilution but that is behind us now. What they do with this cash is the question. More miners, buy Bitcoin or some other crypto ? Or buy an existing mining company for a good price ? Time will tell but they need to use that cash to make more. I'm sure Riot management are brewing a plan.
Bitcoin seems to be recovering again after the dump yesterday so we might see a Riot bounce again. GL
It was sure looking like that a few hours before the market opened. Bitcoin price drop put an end to that for now but let's see what the earnings are.
Riot is mentioned on WallStreetBets. That was helping the price but Mara has taken a dive dragging us down too. They are doing a $500 million debt offering to buy more Bitcoin and machines. No dilution as I see it but debt so maybe we are going to see another reversal with Riot pulling ahead again in the coming weeks. If Bitcoin surges again I think we will see that happen. GLA
FOMO soon by the looks of it ! Just needs Bitcoin to break out again and for earnings to be on target.
Bitcoin correction might just get absorbed without much change in Riot share price. Good sign imo. Not a good time to sell with the good prospect of Bitcoin moving up to another ATH. If it does this weekend and the Riot financials are good next week, Share price should bounce up. Fingers crossed. GLA
Wow ! Mara got hit bad today. Financials came out and not quite as good earnings as anticipated but also Bitcoin got knocked back a bit. Riot has been dragged down with Mara. It's like we are attached to them. Not as bad but right now down $3 per share. Mara down over $9. Let's hope the Riot financials are good ! GLA
The only thing I can see holding this back is the pre approved, possible share release that would dilute shareholders. That has had an impact for many months now. This possible offering is not defined at all so it is hanging over the share price. But even so, Riot is climbing with Bitcoin. Only at the half the rate or even less I'd say.
This pre approved possible offering allows the company to move very quickly if they see something that will improve the business. This, in my opinion, was a mistake for the share price in the short term. Long term, who knows right now. Maybe Riot and another big miner will merge for example ? Shares transfer and voila ! A bigger Riot with a big float but if done properly, good if Bitcoin is going to keep rising as so many predict now.
I think if Riot were to cancel this pre approved offering, the share price would go nuts ! Mara prices and more. Let's see. GL
Thanks for that Rayank. Hope it makes a difference to the price that although is doing great today, it should be much higher. Mara has taken over what Riot did at the beginning of the year. Let's hope some of that rubs on Riot in the weeks to come. It's way under priced when you look at the numbers in their last update. Big recovery coming and that $100 s/p is possible if the company stays on track. If Bitcoin hits $100K then much more likely and maybe ..... a lot more. All appendages crossed. GLA
Bitcoin up over $66K on Sunday night. What will it do today as the markets open ? Looking good for $70K in the near future I'd say.
Riot is up in premarket but still lagging. Some analysts predicting that lag will end suddenly though. Riot is the most efficient miner in the US and it will only get better. The company just needs to say something about the shares they might or might not sell. I see no reason why they need to sell shares for cash now. It would be for some monster deal I think, if one is on the horizon. Or they could just tell us they have no plans to dilute the stock after all. Then the price would surely rocket up to where it should be. Hoping this is the case. GLA
Share price holding up pretty good as Bitcoin retreats to $61K. Good sign and a buy sign if you are a Bitcoin bull. GLA
RIOT Management - Please clarify the predestined share approval you got from the SEC. That application has bashed the stock price as you well know. Shoulda waited. Or maybe this is the plan ?
Reminds me of Apple way back in time. Announcing the better Apple 3 computer and then couldn't supply it because of problems. Their Apple 2 sales tanked because people wanted the new better computer after all the hype from Apple. Management then really blew it. Nearly ended the company as sales income plummeted.
Well it is sort of like that when you look at the share price (not the mining results of course). Riot has fantastic results from mining Bitcoin but the looming dilution, IF there will be ANY, is chaining this beast back. If that possible future dilution had not been made, Riot would be way higher. Maybe close to $70 or $80 and isn't that a better price to sell a few shares to raise money.....IF YOU NEED TOO ?
Hope they read this. GLA
NEWS RELEASE !
Riot has released its October mining numbers. UP again as expected. Lots more machines coming soon as well.
However, Riot is following Bitcoin which is down today so far and seems to linked to Mara price imo as well. Mara moves down quicker though as it will up quicker if Bitcoin moves to a new ATH.
Riot gets stronger each month though so this price gap has to shrink imo but that will only happen when the big movers and shakers move in. GLA
I am with you. As far as I know, none of those shares have been sold yet. It is just the threat that they might be sold holding this back and I am theorizing that if they are sold, it is going to be for something that will push this higher.
And knowing how these things tend to work, the share price can be held down for the buyer to get a good deal and then have potentially huge upside. Like supposing the company is in the process of obtaining a lot more Bitcoin mining machines ? They are not going to say anything about that of course... Secrecy is paramount getting those miners these days or someone will go around you. Or maybe ... buy out another company ?
The problem is that the possible sale of shares is an anchor on the S/P. I wish Riot management would fix this uncertainty but in the end what is the rush if you are in this for the long haul. Riot is supposedly the largest Bitcoin miner in the US at this time so it should be higher and probably will be once the company tells us what is going on.
GLTA
All looks great in their releases. Moved a bit today but still way behind imo. I've been wondering if there is some kind of stock exchange invisibility cloak hiding this from investors ? It should be at least be trading closer to the Marathon price I figure.
Discovered video that was really pumping Riot to a huge extreme. Predicting $100/share if Bitcoin hits $100,000. And a $1000/share if Bitcoin hits $1 Million ! Pretty easy multiples of 10 I'd say. Nice to dream. It's up to Bitcoin in the end.
Like uhhh, does that mean like uhhh, it will be worth more when it goes higher ?
hope so. But it now seems that as Bitcoin goes higher, Riot basically stays flat. Not tracking anymore but it has done this several times before and then the pressure gets too high to not pop. When will that be ? It's like the company waiting for something. Let's see what Bitcoin does in the coming months. GL
Looks like great information and I like the Strong Buy highlights. Riot still in 2 step dance mode though. For now, Bitcoin correcting again and Riot following it. Where will the next floor for Bitcoin be is the question and then rise from there. It's just a waiting game in the end. GL
Hope so too. Still have the feeling that something is cooking behind the scenes. Company has been quiet for months. Maybe that FOMO feeling will be back soon. Before Christmas would be nice !
Short term doesn't work unless you like that gamble. I don't. Bitcoin is the key and long term still looks good as I see it. As Riot gets more mining machines online their haul just gets bigger every month as well. The two together will be good if Bitcoin does go to predicted levels. Always a risk like everything though. GL
Well that solves that. Bitcoin hits $66K+. Riot lagging again for now. Needs a stimulant of some kind to get buyers back. Mara is slowing a bit too. Nerves perhaps but as I see the world now, Bitcoin should have a long way to go yet. GLA
Looks like nerves. Bitcoin near its previous ATH so I think there is worry that it is just a second top here. Might fall back so get out now thinking. Think I will ride it out for the long run in months to come not just a day.
Let's see what happens tomorrow. Interesting at this time to see Bitcoin moving up and Mara going down ! Riot going up. Money moving now from Mara to Riot ? Would not be surprised. Stepping stones you might say. GL
Riot is recovering but still way too low imo. Hoping that Oct 20 open house showing off their Texas mining facility to shareholders will kick start a new wave especially if the company has some juicy bones to throw our way ! Riot should be at least along side Mara imo. Let's see if Bitcoin breaks the last all time high soon as well. GLA
Riot will be half the price of Mara at this rate. Wow. Done well. Let's hope Riot is holding back news to launch it again like Mara. Maybe it will feed Riot buying as sellers change boats. Let's see what Bitcoin does this weekend. GLA
Well the $60K has been broken again by Bitcoin. Riot up as well but not a pop. Percentage wise OK I suppose but the likes of 6 months ago. There is the open house coming up for shareholders on Wed Oct 20th and I wonder if some news will be forthcoming then ? Been pretty dry these last few months. Anyone going ? Too far for me. GL
Good luck. Hope your timing works out.
It is stable and a bit green compared to the others so far today. Why ? My gut tells me something is on the way and the $25 to $26 level is part of that. It's been made to look unattractive and dead imo. Time will tell. Hoping for the $100 S/P if Bitcoin hits the $100K mark. Maybe more if Bitcoin breaks that high. GLA
Riot seems to have a ceiling. $25 - $26 for some reason and maybe due to Seeking Alpha again. Mining cost higher than others apparently. True ? Or just more hype to bang it down, buy it up, then great news comes along. Manipulation once again ?
Yeah maybe. Be nice to see those big moves again but we need something from the company to stimulate that or for the brokers to get back into the picture like they are with Mara. Or maybe, Mara is being pumped up and those profits will move into Riot. Like a two step dance and boots will keep walking. The S/P has improved so far today but still way behind what I believe it should be. Might just be a matter of time. Bitcoin is eyeing the $100k too. Let's hope another big ride is on the way. GLA
The boot is still standing on Riot S/P. Disconnect from Bitcoin price again. Very odd especially as Riot was one of the "must have" stocks. What is going on behind the scenes to hold this down ? Anyone have any microphoned flies on the wall in company headquarters ? GLA
It seems that most Bitcoin miners are not moving up much. This means S/P will drop if Bitcoin price pulls back. FOMO is not happening. Plus maybe nerves that Bitcoin price is just another quick peak BUT if it keeps moving up and breaks to new all time highs, which looks very likely, then the buying will probably start again. Long term still good imo. Short term ?
More great news on production numbers. Is this having an effect ? No. Sideways at best. Bitcoin has just popped over $52K as well. Something very odd going on. Either out of favour or something coming down the pipe so the price must stay in this range no matter what Bitcoin does imo. Maybe a group out there want to buyout Riot ? Or does Riot plan to buyout some other company using low priced shares so that there is a big upside afterwards ? GL
Looks like a big boot is standing on Riot. Being held down imo for some kind of pending deal. I suspect this has to do with that SEC clearance to offer shares as they wanted in the future. They did that for a reason. I'd expect this fly up once that is done if that is the case. It's a waiting game. GL
Geniuses are in short supply and I think we might be better off with a fortune teller anyway. Be nice too if the company had some epic news but even that in a complacently minded market would fizz out I bet. Need to see a spurt of confidence and big buying to get this rolling again imo.
Crypto mining companies all seem to be out of favour for now. Is this about fear of the monster stock market crash being predicted by some "genius" ? I would think Bitcoin would fly then and therefore Riot. Let's see if Bitcoin price breaks the next resistance level and where it goes then. GL
Something going on behind the scenes I figure. Still pushing it down even as Bitcoin breaks through $49K again. Like some big merger but the price needs to be around $25 ? Maybe it's market jitters on top too. A waiting game for Bitcoin to run much higher. GL