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Why Shares of Riot Blockchain Stock Crashed 35% in May

TheMotleyFool

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Why Shares of Riot Blockchain Stock Crashed 35% in May

Shares of cryptocurrency company Riot Blockchain (NASDAQ: RIOT) fell 35% in May, according to data from S&P Global Market Intelligence. The company mines -- the process in which the cryptocurrency is created by a computer -- Bitcoin (CRYPTO: BTC); thus, their share prices are closely correlated. Bitcoin lost about one-third of its value in May, so Riot Blockchain stock followed suit.