Why Riot Platforms Inc. (RIOT) Went Up On Tuesday

Yahoo

24-04-2025

We recently published a list of . In this article, we are going to take a look at where Riot Platforms Inc. (NASDAQ:RIOT) stands against other Tuesday's best-performing stocks.
The stock market bounced back on Tuesday, erasing losses in the previous day, as investors snapped up shares on news that the US-China trade tensions could possibly subside.
The Dow Jones rallied by 2.66 percent, the S&P 500 rose by 2.51 percent, and the Nasdaq surged by 2.71 percent.
On Tuesday, news reports said that US Treasury Secretary Scott Bessent believed there would be a de-escalation between the US and China, describing future negotiations as a slog that has not started yet. The news buoyed trading in several financial markets, including cryptocurrency, with Bitcoin jumping 5 percent to trade above the $91,000 level.
The rally spilled over into 10 companies, predominantly Bitcoin miners. In this article, we have listed the 10 top-performing firms on Tuesday and detailed the reasons behind their gains.
To come up with the list, we considered only the stocks with more than $1 billion in market capitalization and $5 million in trading volume.
A computer engineer working in a futuristic office, programming algorithms to mine cryptocurrency.
Riot Platforms saw its share prices jump by 13.20 percent on Tuesday to finish at $7.12 apiece as investors gobbled up shares in the company following the jump in Bitcoin prices.
RIOT traded higher alongside its Bitcoin-mining peers after the cryptocurrency asset retested the $91,000 level amid stock market volatility and weakness in the US dollar.
In a statement earlier this month, the company said it would announce the results of its first quarter earnings performance after market hours on May 1, 2025.
Last year, RIOT achieved a net income of $109.4 million and a 34-percent increase in revenues at $376.7 million from $280.7 million in the same period a year earlier.
Total Bitcoin mining revenues stood at $321 million for the year, compared with only $189 million in 2023, primarily driven by higher average Bitcoin prices and an increase in operational hash rate, partially offset by an increase in network difficulty and the block subsidy 'halving' event.
Overall, RIOT ranks 6th on our list of Tuesday's best-performing stocks. While we acknowledge the potential of RIOT as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than RIOT but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.