Riot Platforms (RIOT) is a company whose sole purpose in life is crypto.
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In between bulk purchases of erasers, the boys down at Elliott Wave International often describe corporate bonds as “equities in drag.” Setting aside that disturbing imagery, I would point out that the fund representing these, shown below, is indeed looking pretty broken, and as exuberant as stocks are, don’t ignore the fact that bonds ain’t buying it.
Many tens of billions of dollars of shareholder value already destroyed by the agenda-driven algorithms of Google engineers.
The big news of the day continues to be crypto (can you hear the screams of SBF from the MDC?) which, only since October, is up about 150%.