It might sound strange to issue a warning for a publicly traded enterprise that saw its market value jump 335% since the beginning of the year. Unfortunately, that’s going to be the case for blockchain-mining specialist Riot Platforms (RIOT). While RIOT stock may appear to have Wall Street’s backing, persistent pensiveness in the underlying cryptocurrency market implies that investors should adopt a skeptical attitude.
To be clear, this isn’t meant to be an outright pessimistic call. Certainly, few other asset classes command as much intense loyalty as the crypto market. Anything can happen in this arena but that’s also the problem – that “anything” also includes the bearish domain. And when cryptos collapse, they can take down both individual coins/tokens and blockchain-related businesses in a hurry.
