DXC Stock Forecast: COVID-19 Affects the IT Sector
This RIOT stock forecast article was written by Maria Grishaev, Analyst at I Know First.
Executive Summary
- With Bitcoin hitting its all-time high, Riot Blockchain Inc had an extremely good year in 2020 with their stock gaining 1391.07% YTD while the S&P 500 had risen by only 15.58%.
- The recent purchase of new equipment will increase the company’s bitcoin mining hash rate capacity. The recent change in the board of directors also affected the stock price.
- Based on the SWOT analysis, my price target for RIOT is 22$, indicating a cautious buy recommendation.