Riot Blockchain - Under investigation

in bitcoin •  7 years ago 

CNBC investigates public company that changed its name to Riot Blockchain and saw its shares rocket


Click here to read source article from CNBC

Article Summary

As bitcoin hit record highs in December, Riot Blockchain's stock shot up. A CNBC investigation found the company has many red flags.

My thoughts

Just to clear it up - Riot blockchain has nothing to do with Riot games!

It seems that people will buy anything with the name "Blockchain" in it. Bioptic was a medical equipment company that changed their name to "Riot Blockchain". The stocks shot up from $8 to $40 - to spite the fact the company has no plans for any type of blockchain project.

This really paints the picture of how much "dumb" money can move a stock. Just because the price moves up it doesn't mean that the company/project is any good. Please be careful what you invest into.

Desperate Companies

What a desperate move to give some life to your dieing stock. What kind of company would do such a thing...?

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Oh... right...

bitcoin cryptocurrency investing money cryptomarkets
7 years ago by

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      ·  7 years ago 

    ()

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    1 vote
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      ·  7 years ago (edited)

    Twenty years ago I would have shouted, "Oh shit, I wish I could have flipped that for a bunch of money!" Now I'm an adult and it makes me sad how many people lost their hard earned money.
    Also, I have several thousand invested in DPW, and am now scared for my hard earned money. But I believe they are a legit crypto-invested company...I hope.

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      ·  7 years ago 

    Maturing is a bitch.

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      1 vote
      [-]
        ·  7 years ago 

      Thank

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        [-]
          ·  7 years ago 

        Wonderful

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            ·  7 years ago 

          Nice parallel with Kodak...although at least they have a (potentially) viable idea!

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            [-]
              ·  7 years ago 

            And people say that those who invest in Crypto are dumb. This just goes to show that dumb money is everywhere and no amount of government regulation is going to stop it.

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              [-]
                ·  7 years ago 

              Good post, please follback and upvote,,,thanks you

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                [-]
                  ·  7 years ago 

                Interesting article! I really liked it. Please visit my blog and do not forget to vote. Thank you.

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                  [-]
                    ·  7 years ago 

                  People need to learn to research things they want to invest in.

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