I used to have RIOT but I sold it before they did the share offering, and it seems the right decision as the stock tanking thereafter and only did slow recovery. It might be due people trust they might do that again in the future.
Bitcoin mining such as MARA, RIOT BTBT, BTIF, HUT, GREE etc are highly affected by the Bitcoin performance. I keep holding another Bitcoin mining MARA though for a long time holding.
To me I will re-enter RIOT again on the price I believe is right. The graph below currently showing the people star selling their stock, probababy taking profit from previous run. The stock price start dropiing due to earning, the MACD start showing the dead cross but it has not been confirmed by RSI. RSI has not been in the oversold territory.
MY PLAN I will strike when RSI has gone below 30 or the next resitance level which is around $26. or do nibbling when the price starts turning around.