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Stock impact report

Analysts slash Bitcoin miner's price targets after disappointing Q3 [Yahoo! Finance]

Morgan Stanley (MS) 
Last morgan stanley earnings: 4/16 07:15 am Check Earnings Report
US:NYSE Investor Relations: morganstanley.com/about-us-ir
Company Research Source: Yahoo! Finance
Following Riot's fourth-quarter earnings release on March 3, several analysts lowered their price targets on the stock. However, none of them shifted to a bearish stance as they show confidence in the company's growth strategy despite near-term volatility. Related: Riot Platforms stock jumps after $1B AMD AI deal Bitcoin sales helping fund expansion During Riot's fourth-quarter earnings call, company leadership highlighted a strategy that is becoming increasingly common among large Bitcoin mining firms: selling BTC to finance growth. Chief Financial Officer Jason Chung explained that Riot has been selling its ongoing monthly Bitcoin production and occasionally tapping into its treasury reserves to fund operations and capital expenditures. “In addition to selling all of our ongoing Bitcoin monthly production, we have and will continue to sell Bitcoin directly from our balance sheet to fund our operational needs and growth CapEx,” Chung said during the call. One example i Show less Read more
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