RIOT Stock: A Deep Dive into the Technicals

RIOT Stock: A Deep Dive into the TechnicalsShow more

RIOT is currently at support, will it hold or will it test lower?
Let’s find it out in today’s technical analysis.

If you have watched the previous analysis of RIOT, from Jan 14th you could have made some massive profits for more than 75%.
Watch the full analysis of RIOT from Jan 14th here:
https://www.youtube.com/watch?v=AGzN6Wmuda4&t=5s

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Riot Platforms Inc.
* History
Riot Platforms Inc. was originally founded in 2017 as Bioptix, Inc., a biotechnology company focused on developing treatments for rare diseases. In 2018, the company pivoted to blockchain and cryptocurrency and changed its name to Riot Blockchain, Inc. In 2021, the company changed its name again to Riot Platforms, Inc. to reflect its expanded focus on digital infrastructure.
* Business
Riot Platforms is a Bitcoin mining company that operates a large-scale Bitcoin mining facility in Whinstone, Texas. The company also provides digital infrastructure services to other companies, such as colocation and hosting services.
* Financial Performance
Riot Platforms has been growing rapidly in recent years. In 2021, the company's revenue increased by 132% year-over-year to $262 million. The company's net income also increased significantly in 2021, from $1.9 million in 2020 to $91.5 million in 2021.
* Outlook
Riot Platforms is well-positioned to benefit from the continued growth of the Bitcoin mining industry. The company has a large and growing fleet of Bitcoin miners, and it is expanding its mining operations. Riot Platforms is also expanding its digital infrastructure business, which is another potential growth driver.
* Risks
The Bitcoin mining industry is highly competitive, and the price of Bitcoin is volatile. These factors could impact Riot Platforms' financial performance in the future.
Other interesting information:
* Riot Platforms is one of the largest publicly traded Bitcoin mining companies in the world.
* The company's CEO, Jason Les, is a former investment banker and technology entrepreneur.
* Riot Platforms is headquartered in Castle Rock, Colorado.

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00:00 ⏩ Intro
00:22 ⏩ RIOT Stock: A Deep Dive into the Technicals
07:19 ⏩ Thanks and Goodbye + Outro

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*Disclaimer*
Please be advised that the content of my videos are intended FOR EDUCATIONAL INFORMATION PURPOSES not financial advice. The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Purchasing cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome. Past performance does not indicate future results.

This information is what was found publicly on the internet. This is all my own opinion. All information is meant for public awareness and is public domain. Please take this information and do your own research.