Why Riot Platforms Stock Skyrocketed by Nearly 11% on Monday
Key Points
An analyst upped his price target on the Bitcoin miner's shares, while maintaining his bullish outlook.
This closely followed Riot's latest operational update.
- 10 stocks we like better than Riot Platforms ›
The combination of a positive operational update and an analyst's subsequent price target increase lit a fire under Riot Platforms as the trading week got off to a start. The Bitcoin mining and data center development company's share price saw a significant lift by almost 11% on these factors.
A bull gets more bullish
The person behind the price target raise was Cantor Fitzgerald pundit Brett Knoblauch. Before market open on Monday, he lifted his fair value assessment on Riot's equity to $26 per share from his former $22. He maintained his overweight (read: buy) recommendation in the process.
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks »
Image source: Getty Images.
This occurred one business day after Riot published its latest monthly operational update. Across September, the company produced 445 Bitcoins, which was down from the previous month's tally of 477, but 8% higher on a year-over-year basis.
Meanwhile, it managed to sell more Bitcoins this month than in August, at totals of 465 to 450, respectively. And its total Bitcoin holdings improved dramatically when compared to those of September 2024 (19,287 versus 10,427), although this amount was down slightly from August's 19,309.
A prime site for growth
According to reports, Knoblauch feels that Riot is well positioned to improve some of these numbers. He pointed out that at one of its sites, Corsicana, it is currently building out capacity to improve its capacity for artificial intelligence (AI) and high-performance computing (HPC). The analyst added that Corsicana, in his view, is one of the best sites among all Bitcoin miners in its current coverage.
Should you invest $1,000 in Riot Platforms right now?
Before you buy stock in Riot Platforms, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Riot Platforms wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $621,976!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,150,085!*
Now, it’s worth noting Stock Advisor’s total average return is 1,058% — a market-crushing outperformance compared to 191% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
See the 10 stocks »
*Stock Advisor returns as of September 29, 2025
Eric Volkman has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy.
Recommended Articles
