H. C. Wainwright initiates coverage on Riot Blockchain with 'buy'

BTC Health

23/11/2022 15:23

** Cryptocurrency miner Riot Blockchain Inc's shares
 RIOT.O  rise 4.8% to $4.2 in morning trade
    ** H.C. Wainwright initiates coverage on stock with "buy"
rating, sets PT at $10
    ** Brokerage believes FTX’s bankruptcy announcement and
short-term negative impact on bitcoin  BTC=BTSP  prices could
accelerate industry consolidation among bitcoin miners; sees
RIOT as a beneficiary
    ** HCW forecasts RIOT's market share should grow to over 4%
by Q4 of FY23 on co's continued scaling of operating capacity
    ** BTC has fallen 19.5% so far this month
    ** 10 of 11 brokerages rate the stock "buy" or higher and
one "hold"; their median PT is $11 - Refinitiv data
    ** Stock down 81.2% YTD
 (Reporting by Shristi  Achar A in Bengaluru)
 ((Shristi.AcharA@thomsonreuters.com;))