Riot Blockchain stock plunges 20% following parabolic rally

Cointelegraph

Published Feb 18, 2021 04:57PM ET

Updated Feb 18, 2021 06:40PM ET

Shares of crypto mining company Riot Blockchain (NASDAQ:RIOT) plunged on Thusday, giving back a portion of a parabolic rally that was largely driven by news of a major boost in hash rate capacity.

RIOT fell 20.4% to close at $62.03 on Thursday but was moving slightly higher in after-hours trading. At current values, RIOT has a total market capitalization of $4.2 billion, making it one of the largest companies in the blockchain industry.

RIOT's 6-month trajectory shows a strong uptrend for the stock. Chart via TradingView

Continue Reading on Coin Telegraph