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How to buy Riot Platforms stock (RIOT)

Buy Riot Platforms stock in 5 easy steps, view past price performance and learn what’s ahead for the company.

Riot Platforms Inc is a bitcoin mining company headquartered in Castle Rock, Colorado. The company engages in proof-of-work mining and focuses on expanding its operations by increasing its Bitcoin mining hash rate and infrastructure capacity.

Founded by Jason Les in 2000, Riot Platforms is one of the largest U.S. based publicly-traded Bitcoin miners in North America. The company rebranded in January 2023, changing its name from Riot Blockchain Inc to its current name, Riot Platforms Inc. The stock is listed on the NASDAQ under ticker symbol RIOT.

How to buy shares in Riot Platforms

  1. Open a brokerage account. Choose from our top broker picks or compare brokers in depth. Then, complete an application.
  2. Fund your account. Add money to your account via bank transfer, debit card or credit card.
  3. Search the platform by ticker symbol. RIOT in this case.
  4. Choose an order type. Place a market order or limit order with your preferred number of shares or dollar amount.
  5. Submit the order. It's that simple.
The whole process can take as little as 15 minutes. You'll need a smartphone or computer, an internet connection, your passport or driving license and a means of payment.

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Latest updates for Riot Platforms

June 21, 2024: Several Bitcoin BTC/USD mining stocks, including Riot Platforms, are trading higher Thursday as bitcoin rebounds off recent lows, according to Benzinga.

June 11, 2024: Bitcoin mining company Bitfarms Ltd. is adopting a “poison pill” shareholder rights plan as a defense after an unsolicited takeover offer by larger rival Riot Platforms Inc, according to Yahoo Finance.

June 5, 2024: Riot said it produced 215 bitcoins in May, down 68% year-over-year and down 43% compared to April. The lower totals reflect the first full month of reduced block rewards following the April halving, according to Benzinga.

May 29, 2024: Riot Platforms says Bitfarms nixed a merger deal that would have created "word’s largest publicly listed bitcoin miner." As a result, Bitfarms Ltd’.s stock jumped nearly 7% on Tuesday after it rejected rival Riot Platforms offer of a $950 million buyout, according to Market Watch.

Looking ahead - Riot Platforms stock Q2 2024

Across the recent three months, 16 analysts have shared their insights on Riot Platforms (NASDAQ:RIOT), expressing a variety of opinions spanning from bullish to bearish. Their assessments of 12-month price targets revealed an average target of $18.47, a high estimate of $20.00, and a low estimate of $15.00. Witnessing a positive shift, the current average has risen by 1.65% from the previous average price target of $18.17, according to Business Insider.

Riot noted that it has placed three purchase orders with MicroBT for additional mining systems. Deployment of the miners is expected to begin in the second quarter and be completed in the third quarter. Riot expects that it will reach a total self-mining hash rate capacity of 41 EH/s in 2025 upon full deployment, according to Benzinga.

Is it a good time to buy Riot Platforms stock?

Review technicals and fundamentals to help you determine if now's a good time for you to invest.

Technical analysis

View Riot Platforms's price performance, share price volatility, historical data and technicals.

Use our graph to track the performance of RIOT stock over time.

Historical closes compared with the last close of $9.115

1 week (2024-06-16)-16.45%
1 month (2024-05-23)-12.10%
3 months (2024-03-21)-20.04%
6 months (2023-12-21)-48.73%
1 year (2023-06-22)-21.42%
2 years (2022-06-23)75.63%
3 years (2021-06-23)-73.21%
5 years (2019-06-23)199.84%

The gauge below shows real-time ratings that are based on 26 popular indicators such as moving averages, for specific time periods. It's not a recommendation but is simply technical analysis that can form part of your research.

Finder might not agree with the analysis and we take no responsibility. We also give no representations or warranty on the accuracy or completeness of the information provided on this page.

Is Riot Platforms under- or over-valued?

Valuing a stock is incredibly difficult, and any metric has to be viewed as part of a bigger picture of overall performance. However, analysts commonly use some key metrics to help gauge value. Check out the Riot Platforms P/E ratio, PEG ratio and EBITDA.

Riot Platforms's current stock price divided by its per-share earnings (EPS) over a 12-month period gives a "trailing price/earnings ratio" of roughly 25x. In other words, Riot Platforms's stocks trade at around 25x recent earnings.

That's relatively high compared to, say, the trailing 12-month P/E ratio for the United States stock markets on average as of November 09, 2023 (20.44). The high P/E ratio could mean that investors are optimistic about the outlook for the shares or simply that they're over-valued.

Riot Platforms's EBITDA (earnings before interest, taxes, depreciation and amortisation) is $238.4 million.

The EBITDA is a measure of Riot Platforms's overall financial performance and is widely used to measure a its profitability.

Share price volatility

Over the last 12 months, Riot Platforms's shares have ranged in value from as little as $7.8 up to $20.65. A popular way to gauge a stock's volatility is its "beta".

Beta is a measure of a share's volatility in relation to the market. The market (NASDAQ average) beta is 1, while Riot Platforms's is 4.063. This would suggest that Riot Platforms's shares are significantly more volatile than the average for this exchange and represent a higher risk.

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Written by

Matt Miczulski

Matt Miczulski is an investments editor at Finder. With over 450 bylines, Matt dissects and reviews brokers and investing platforms to expose perks and pain points, explores investment products and concepts and covers market news, making investing more accessible and helping readers to make informed financial decisions. Before joining Finder in 2021, Matt covered everything from finance news and banking to debt and travel for FinanceBuzz. His expertise and analysis on investing and other financial topics has been featured on CBS, MSN, Best Company and Consolidated Credit, among others. Matt holds a BA in history from William Paterson University. See full profile

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