For those intrigued by the recent cryptocurrency rally, Riot Blockchain (NASDAQ: RIOT) is one company investors may have been watching closely heading into its second-quarter results, which were released after market close yesterday. Today, Riot's stock opened slightly lower and has lost steam throughout the day, trading down 5.5% as of 11:30 a.m. ET. Riot missed top-line estimates, with revenue coming in at $72.9 million.
Riot Blockchain, Inc. (RIOT) delivered earnings and revenue surprises of -725% and 5.55%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?
In the latest trading session, Riot Blockchain, Inc. (RIOT) closed at $9.76, marking a -1.71% move from the previous day.