Riot Blockchain Shares Skyrocket After Bitcoin Jumps and Hyundai Motor Company Shares Plunge After No Partnership with Apple
On Monday, shares of Riot Blockchain skyrocketed, closing up 40.25% to reach an all-time high of $32.89.
Shares of the Bitcoin mining company closed higher after Bitcoin skyrocketed to a new all-time high of more than $46,000. Riot Blockchain’s stock is closely tied to the price of Bitcoin, so as Bitcoin skyrockets, Riot Blockchain tends to increase.
Bitcoin’s price increased after electric vehicle maker Tesla announced the company would be buying $1.5 billion worth of Bitcoin.
Shares of Riot Blockchain are up over 800% in the past three months.
Hyundai Motor Company
Shares of Hyundai Motor Company closed down 6.83% on Monday.
Shares of the automotive manufacturer plunged after the company announced they weren’t in talks with Apple to build a self-driving vehicle.
Last month, Hyundai confirmed it was talking with Apple about developing an Apple Car but then revised their statement twice, finally saying the company was in talks with multiple companies about a potential partnership. Apple did not comment on the situation.
Shares of Hyundai Motor Company are up over 45% in the past three months.
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.