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Benzinga
Benzinga
Business
Evette Mitkov

Riot Platforms Stock Is Rallying Wednesday: Here's Why

Riot Riot Platforms Bitcoin Arete Research Riot Platforms Inc
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Shares of Riot Platforms Inc (NASDAQ:RIOT) are trading higher on Wednesday following positive analyst coverage from Arete Research combined with a rise in Bitcoin prices.

What Happened: Arete Research initiated coverage on Riot with a Buy rating and price target of $26, setting a new Street-high among analysts covering the Bitcoin (CRYPTO: BTC) mining stock. The company’s shares opened at $18.51 on Wednesday and hit a new 52-week high of $20.13 before giving back some of the gains.

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