Why Riot Platforms Stock Was Up a Spectacular 356% Last Year
Riot Platforms(RIOT) The Motley Fool·2024-01-10 22:38Shares of cryptocurrency mining company Riot Platforms (RIOT -1.21%) were up 356.3% in 2023, according to data provided by S&P Global Market Intelligence. The company mines and holds Bitcoin (BTC 0.54%), which for its part was up more than 150% during the year, providing a substantial tailwind to Riot stock.The S&P 500 was up about 24% in 2023. So Riot benefited from both favorable stock market conditions and a bullish cryptocurrency market. However, as the chart shows, the movements of Riot stock deviated ...