Riot Platforms (RIOT) Down Heavily on 6th Day as Earnings Disappoint

We recently published 10 Stocks Investors Are Dumping Fast. Riot Platforms, Inc. (NASDAQ:RIOT) is one of the worst-performing stocks on Friday.

Riot Platforms extended its losing streak to a sixth straight day on Friday, slashing 17.75 percent to close at $11.03 apiece as investors soured on the company’s disappointing first-half earnings performance and unloaded positions amid the broader market pessimism.

During the period, Riot Platforms, Inc. (NASDAQ:RIOT) remained at a net loss of $76.9 million, versus a $127 million net income in the same period last year, despite posting a $219-million net income in the second quarter, reversing an $84 million net loss in the same period last year.

Total revenues for the second quarter amounted to $153 million, marking a 118 percent jump from the $70 million registered in the same period a year ago.

On Friday, Riot Platforms, Inc. (NASDAQ:RIOT) also dropped alongside the prices in Bitcoin after President Donald Trump announced the imposition of tariffs on US imports.

As of this writing, the prices of Bitcoin were down by 1.79 percent at the $113,000 level.

While we acknowledge the potential of RIOT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.