RIOT

Analyst cuts weighing on the stock

• RIOT −1.26% on the last session vs SPY +0.22%: −1.5 pts of stock-specific move.
• Against the group: its crypto-linked peers +1.2% (+1.0 pts vs SPY).
• Filing: 8-K: material agreement (item 1.01) (filing)
• Aftermath, rsi oversold (Oct 14): After its 12 oversold readings in the past 5 years, RIOT was higher a day later 4 times out of 12; half the outcomes fell between -5.5% and +0.4%. History, not a forecast.
• 1 analyst action in the past 10 days (0 positive, 1 negative); latest: Morgan Stanley maintained Overweight, lowered target $43.00 → $35.50.
• Market backdrop (Today): Core PPI m/m 1.3% vs 0.3% expected (hotter); Core Retail Sales m/m 0.9% vs 0.6% expected (stronger); S&P futures -0.08%, 10-year yield -3bp in the 30 minutes after.