Riot Platforms, Inc. RIOT shares are trading lower on Wednesday. The stock may be trading lower following a slight decline in the price of Bitcoin following a recent rally.
What To Know: On Monday, shares of crypto-related stocks traded higher following a spike in Bitcoin after traders circulated a now-refuted rumor of Bitcoin spot ETF approval.
The price of Bitcoin was volatile on Monday following the news, surging to $29,397.30. The price has since pulled back which may be contributing to Riot's decline on Wednesday.
In response to Fox Business journalist Eleanor Terrett, BlackRock rejected inaccurate information regarding the rumor and affirmed that their Bitcoin ETF application is still in the process of being reviewed.
Related Link: What In The World Is Going On With Rivian Stock?
RIOT Price Action: Shares of RIOT were down 8.84% at $8.82 at the time of publication, according to Benzinga Pro.
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