Bitcoin’s Price Is Not the Only Risk to Riot Blockchain
Vince Martin, 31 March 2021
Less than four years ago, Riot Blockchain (NASDAQ:RIOT) was a failed animal health company named Bioptix. What is now RIOT stock was then BIOP stock — and it traded for less than $4 per share.
That wasn’t because investors put much value on the business: Bioptix in fact had more than $2 per share in cash at the end of 2017’s second quarter. BIOP was basically just another penny stock in the biotech space.
But in October of that year, Bioptix rebranded to Riot Blockchain. It was a move that invited a huge rally — and quite a bit of skepticism.
Blockchain and other cryptocurrencies were hot then, with Bitcoin (CCC:BTC-USD) at one point rising from $900 to $20,000 during 2017. Riot was not alone in moving into crypto and blockchain: Eastman Kodak (NYSE:KODK) infamously was involved in a “KodakCoin” project which never came to fruition. That didn’t stop KODK stock from soaring. Continue reading “Article: Bitcoin’s Price Is Not the Only Risk to Riot Blockchain”
Raging Capital Reveals New Long Position (CAVM) and Discusses 3 Short Positions (VRX, LC, PMTS) in Q2 Letter to Investors
GENE GUZUN, 08 August 2016
Hedge funds’ quarterly 13F filings are quite useful for retail investors seeking to invest like wealthy and successful money managers, but their quarterly letters to investors are even more informative and useful. Raging Capital Management LLC, an investment firm launched by William C. Martin in April 2006 with capital from friends and family, recently sent a quarterly letter to investors discussing the firm’s performance and its biggest contributors to that performance.
New Jersey-based Raging Capital Management, mostly known for its activist investment strategy, invests in both emerging growth stocks and deep-value investments. The activist asset manager generated a net-of-fees return of 5.1% in the second quarter of 2016, bringing tits return for the first half of the year to an impressive 14.0%. Mr. Martin’s investment firm delivered a compound annual growth rate of 21.2% since inception through the end of the second quarter, approximately three-times the 7.1% return generated by the S&P 500 Index over the same time span.
Continue reading “Article: Raging Capital Reveals New Long Position (CAVM) and Discusses 3 Short Positions (VRX, LC, PMTS) in Q2 Letter to Investors”