Riot Blockchain company appointed Chris Ensey as Interim Chief Executive after the resignation of John O’Rourke who was the chairman and CEO of the company. Remo Mancini is appointed as a new chairman of the board.
Although the company has not mentioned anything about resignation from its former CEO. However, the credibility of this company has been affected to a large extent by losing around 24 percent of its value in stock market trading.
The $27 million blockchain swindle announcement has led to the revelation of a lot of things that until now were considered very normal. As per SEC’s report, few shareholders also misinterpreted the size of their investments illegally. But, the Blockchain Riot was not part of the SEC complaint.
It has announced that charges have been made against a group of 10 individuals and allied organizations related to illegal schemes running for a longer time, according to a report by Blokt.
Riot Blockchain Inc., is based on building and operating blockchain technologies. It works on cryptocurrency mining operations, other developed business, joint ventures, targeted investments, and acquisitions.
Stock Price Updates of The Riot Blockchain
The stock price of blockchain company has increased very rapidly when it had changed its name, according to a report by CNBC.
On September 13, 2018, shares of this company were down by 1.6 percent according to NASDAQ. Almost 12,038 shares changed hands and declined 98 percent from a daily volume average of 665,468 shares.
BlackRock Inc. holds 159,450 shares which are valued at $1,011,000 after buying an additional 35,954 shares. While both hedge funds and Institutional investors hold 13.42 percent, according to a report by FairFieldCurrent.
During the first quarter, Equitec Specialist LLC purchased a new stake in shares of the Riot Blockchain company. Whereas, during the second quarter BlackRock Inc., has gained its position by 29 percent in shares of this firm.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]