Riot Platforms Stock Reverses Gains As Market Turns Cautious Despite Bitcoin Surge

Shares of Riot Platforms Inc (NASDAQ:RIOT) rose as much as 4% to $9.30 early Wednesday, buoyed by Bitcoin's (CRYPTO: BTC) breakout to a record high of $109,500. However, RIOT reversed course later in the session, falling 1% to $8.84 amid broader market uncertainty and renewed fiscal policy concerns.

What To Know: Bitcoin's rally, driven by over $50 million in liquidated short positions and increased institutional accumulation, initially lifted crypto-linked equities.

Riot, a major Bitcoin mining firm, benefited from the surge as the world's largest cryptocurrency rebounded more than 40% from its April lows.

Despite crypto strength, stocks across sectors fell Wednesday afternoon. Traders grew cautious as Treasury yields spiked, with the 30-year yield reaching 5.02%, following concerns over former President Trump's proposed "One Big Beautiful Bill."

The policy uncertainty weighed on risk sentiment, pressuring growth stocks like RIOT. Investors now await Fed commentary and economic data for clarity on interest rate direction.

Read Also: Wall Street Stalls As Yields Rise, Bitcoin Breaks Records Above $109,000: What’s Driving Markets Wednesday?

How To Buy RIOT Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Riot Platforms’s case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, RIOT has a 52-week high of $15.87 and a 52-week low of $6.19.