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Riot Platforms, Inc. (RIOT) Suffers a Larger Drop Than the General Market: Key Insights

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Riot Platforms, Inc. (RIOT - Free Report) closed the most recent trading day at $9.87, moving -1.3% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.95%. Elsewhere, the Dow lost 1.09%, while the tech-heavy Nasdaq lost 0.84%.

The company's stock has dropped by 13.94% in the past month, falling short of the Business Services sector's loss of 0.45% and the S&P 500's gain of 1.78%.

Analysts and investors alike will be keeping a close eye on the performance of Riot Platforms, Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.20, marking a 600% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $94.21 million, reflecting a 28.64% rise from the equivalent quarter last year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.42 per share and a revenue of $452.26 million, signifying shifts of -50% and +61.12%, respectively, from the last year.

Investors should also pay attention to any latest changes in analyst estimates for Riot Platforms, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 45.24% increase. As of now, Riot Platforms, Inc. holds a Zacks Rank of #3 (Hold).

The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on

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