On Monday, Riot Platforms reached an important technical milestone, with its Relative Strength (RS) Rating moving into the 90-plus percentile with an improvement to 91, up from 88 the day before.
This unique rating identifies market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the last 52 weeks matches up against the rest of the market.
Decades of market research shows that the best stocks often have an RS Rating of at least 80 at the beginning of a new price run.
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While now is not an ideal time to buy shares, see if the stock manages to form a consolidation and break out.
The company reported 0% earnings growth in the latest quarterly report, while sales growth came in at 63%.
The company holds the No. 47 rank among its peers in the Financial Services-Specialty industry group. Marex Group, Sezzle and Tradeweb Markets are among the top 5 highly rated stocks within the group.
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