Riot Blockchain Shares Fall Amid Bitcoin Volatility and Virgin Galactic Chairman Sells Shares
On Friday, shares of Riot Blockchain fell, closing down 9.01%.
Shares of the Bitcoin mining company fell as Bitcoin fell below $48,000.
The volatility of Riot Blockchain’s stock price can be attributed to the volatility of Bitcoin. Bitcoin’s price has increased over 150% in the past three months as more banks accept Bitcoin, and as more companies add Bitcoin to their balance sheets.
Analysts will be paying close attention to #riot as they get ready to report earnings on March 23.
Shares of Riot Blockchain are up over 260% in the past three months.
On Friday, shares of American spaceflight company Virgin Galactic fell, closing down 9.93%.
Shares of the spaceflight company fell after company chairman Chamath Palihapitiya announced he sold the last of his 6.2 million shares in the company, rattling investors. Some think Palihapitiya dumped all his shares, but he still owns 15.8 million shares of Virgin Galactic stock — indirectly owned jointly with his investing partner Ian Osborne.
Chamath Palihapitiya is responsible for taking Virgin Galactic public via special purpose acquisition company on October 28, 2019, becoming the first publicly traded commercial spaceflight company.
Shares of Virgin Galactic are down over 50% in the past month.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.