Riot Platforms, Inc

Riot Platforms, Inc (NASDAQ: RIOT) is a company focused on Bitcoin mining and digital infrastructure. It runs Bitcoin mining facilities in central Texas and Kentucky and also has engineering and fabrication operations for electrical switchgear based in Denver, Colorado. The company operates a platform centred around Bitcoin infrastructure, with its business divided into two main segments: Bitcoin Mining and Engineering.

As per our previous US Dailies Report published on ‘RIOT’ on April 25, 2025, Kalkine provided an ‘Buy’ stance on the stock at USD 7.77 based on technical analysis and the stock price has now moved down by ~13.77% since then and has attained resistance 1.

Noted below are the details of support and resistance levels provided in our previous report:

Daily Chart

Considering a volatile market condition led by recent tariffs escalation from United States and subsequent retaliation, resistance 1 attainment, recession fear, higher interest rate and geopolitical disruption a ‘Sell’ rating is assigned to the ‘RIOT’ at the current market price of USD 8.84 as of May 09,2025, at 06:40 am PDT. 

Note: This report may be updated with details around fundamental and technical analysis, price chart in due course, as appropriate.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is May 09, 2025. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.