Promising Blockchain Stocks To Follow Now – May 2nd

Oracle, Riot Platforms, and Applied Digital are the three Blockchain stocks to watch today, according to MarketBeat’s stock screener tool. Blockchain stocks are shares of publicly traded companies that develop, support or utilize blockchain technology. They include firms building distributed‐ledger software, operating cryptocurrency exchanges, supplying mining hardware or integrating blockchain into their products and services. Investors buy these stocks to gain indirect exposure to the innovation and potential growth of blockchain without owning digital currencies directly. These companies had the highest dollar trading volume of any Blockchain stocks within the last several days.

Oracle (ORCL)

Oracle Corporation offers products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle Fusion cloud enterprise resource planning (ERP), Oracle Fusion cloud enterprise performance management, Oracle Fusion cloud supply chain and manufacturing management, Oracle Fusion cloud human capital management, Oracle Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.

ORCL traded up $6.67 during trading on Friday, reaching $152.16. 6,115,777 shares of the company traded hands, compared to its average volume of 11,546,843. Oracle has a 12-month low of $114.55 and a 12-month high of $198.31. The firm has a fifty day simple moving average of $143.97 and a 200 day simple moving average of $164.06. The company has a debt-to-equity ratio of 5.65, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $425.57 billion, a P/E ratio of 37.21, a PEG ratio of 3.46 and a beta of 1.22.

Riot Platforms (RIOT)

Riot Platforms, Inc., together with its subsidiaries, operates as a bitcoin mining company in North America. The company operates through three segments: Bitcoin Mining, Data Center Hosting, and Engineering. It also provides co-location services for institutional-scale bitcoin mining companies; critical infrastructure and workforce for institutional-scale miners to deploy and operate their miners; operation of data centers; and maintenance/management of computing capacity.

Shares of RIOT traded up $1.01 during midday trading on Friday, hitting $8.78. 30,990,975 shares of the company traded hands, compared to its average volume of 25,682,042. Riot Platforms has a 52 week low of $6.19 and a 52 week high of $15.87. The firm has a 50 day moving average of $7.63 and a 200-day moving average of $10.28. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 20.45 and a beta of 4.60.

Applied Digital (APLD)

Applied Digital Corporation designs, develops, and operates datacenters in North America. Its datacenters provide digital infrastructure solutions to the high-performance computing industry. The company also provides artificial intelligence cloud services, high performance computing datacenter hosting, and crypto datacenter hosting services.

NASDAQ APLD traded up $0.13 during trading on Friday, hitting $5.34. 16,522,219 shares of the stock traded hands, compared to its average volume of 28,898,104. The company has a market capitalization of $1.20 billion, a P/E ratio of -3.09 and a beta of 5.18. Applied Digital has a 12-month low of $2.98 and a 12-month high of $12.48. The firm has a 50-day simple moving average of $5.93 and a 200-day simple moving average of $7.59. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.22.