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Riot Blockchain fast-money investor cashes in

Published 01/31/2018, 08:30 AM
© Reuters.  Riot Blockchain fast-money investor cashes in
RIOT
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  • “When stock goes up, you take a profit,” says Barry Honig. “Every good investor does it.”
  • Honig has a habit of seizing on the latest hot investing craze, finding small companies with some cash on hand and a cheap share price, buying in, and then pushing for a change in focus to that new craze.
  • Honig said he owned about 500K shares (9.9% stake) of Riot Blockchain (NASDAQ:RIOT) after the one-time biotech changed its name and mission. He later added to that stake.
  • He tells the WSJ he's sold about 500K shares, but still owns about 1% of the company.
  • After the price explosion last year, Riot's had a tough time of it, down about 62% since mid-December.
  • Now read: Risks Rising, Returns Diminishing, And The Cryptocurrency Craze


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