So, you’re probably wondering, what are the 3 best blockchain stocks to consider for your portfolio? It’s a good question, especially with how much blockchain technology is changing things. We’re talking about the backbone for things like cryptocurrencies and other cool innovations. Picking the right stocks in this space can be a bit tricky, but some companies stand out. We’ve looked at a few, and here are some top picks that seem to be making a real impact in the blockchain world.
Key Takeaways
- Oracle is a big player in cloud software, which helps its blockchain work.
- Applied Digital focuses on things like data centers for high-performance computing.
- Riot Platforms is known for its Bitcoin mining operations.
- These companies represent different ways to get involved with blockchain through stocks.
- Always do your own research before making any investment choices.
1. Oracle
Oracle is a big name, and it’s not just about databases anymore. They’ve got their fingers in a lot of pies, especially when it comes to cloud services. You’ve probably heard of Oracle Cloud, which includes a bunch of software applications like ERP, supply chain management, and even healthcare stuff through Oracle Cerner. Basically, they’re trying to be a one-stop shop for enterprise IT needs.
Oracle provides enterprise information technology solutions across the globe.
Oracle’s stock, NYSE:ORCL, has been doing its thing. Recently, the stock traded around $208.27. The company’s market cap is huge, sitting at around $582.51 billion. They’ve got a PE ratio of 48.00 and a beta of 1.32. Plus, they’ve been hitting both 52-week highs and lows, showing some movement in the market.
Here’s a quick look at some of their key stats:
- Market Cap: $582.51 billion
- PE Ratio: 48.00
- Beta: 1.32
- 52-Week Low: $118.86
- 52-Week High: $216.60
Oracle’s got a mix of cloud software applications, including Oracle Fusion cloud ERP, Oracle Fusion cloud enterprise performance management, and NetSuite applications. They’re trying to cover all the bases, from sales and service to marketing. It’s a broad approach, aiming to keep businesses running smoothly with their tech.
2. Applied Digital
Okay, so Applied Digital is another player in the blockchain game, but they come at it from a slightly different angle. Instead of focusing solely on mining, they’re more about providing the infrastructure that makes a lot of this stuff possible. They design, develop, and operate data centers in North America. Think of them as the landlords for the digital age, renting out space and resources to those who need serious computing power.
Applied Digital focuses on providing digital infrastructure solutions to the high-performance computing industry. This includes AI cloud services, high-performance computing data center hosting, and even crypto data center hosting services.
It’s interesting to see how the stock is doing. As of Tuesday, APLD shares were at $11.25. Here’s a quick rundown:
- Market Cap: $2.53 billion
- Price-to-Earnings Ratio: -6.50 (yikes, negative earnings!)
- Beta: 6.08 (super volatile!)
Some other things to consider:
- They’ve got a 50-day moving average of $6.96 and a 200-day moving average of $7.62.
- Their 1-year low is $3.01, and their 1-year high is $15.42. Talk about a rollercoaster!
- The debt-to-equity ratio is 1.22, with a current and quick ratio of 0.77.
Basically, Applied Digital is betting big on the future of high-performance computing, and that includes blockchain. It’s a higher-risk, higher-reward kind of play, so do your homework before jumping in.
3. Riot Platforms
Riot Platforms is another player in the blockchain space, but they’re focused on bitcoin mining. They’re not just mining, though; they also offer data center hosting and engineering services. Basically, they’re trying to be a one-stop shop for institutional-scale Bitcoin miners.
Riot Platforms aims to capitalize on the increasing demand for Bitcoin and the infrastructure needed to support it.
It’s interesting to see how they’ve diversified their business model. Here’s a quick rundown of their segments:
- Bitcoin Mining: This is their core business, where they generate Bitcoin through mining operations.
- Data Center Hosting: They provide co-location services for other large-scale miners.
- Engineering: They offer critical infrastructure and workforce for miners.
On Tuesday, NASDAQ:RIOT traded at $9.62. The stock has a market capitalization of $3.44 billion, a P/E ratio of 22.41 and a beta of 4.53. Riot Platforms has a 1 year low of $6.19 and a 1 year high of $15.87.
Conclusion
So, we’ve looked at some of the top blockchain stocks out there. It’s pretty clear this area is still growing, and there’s a lot of potential. Just remember, the market can be a bit wild sometimes, so it’s always a good idea to do your own homework before putting your money into anything. Keep an eye on how these companies are doing, and you might just find a good fit for your portfolio. Happy investing!
Frequently Asked Questions
What exactly are blockchain stocks?
Blockchain stocks are shares of companies that either make, use, or help with blockchain technology. Blockchain is like a super secure, public record book for transactions. Investing in these stocks means you’re putting money into companies that are building or using blockchain for things like digital money, smart agreements, tracking goods, and new online apps.
Which blockchain stocks are considered the best at the moment?
MarketBeat’s stock checker tool pointed out Oracle, Applied Digital, and Riot Platforms as the top three blockchain stocks to keep an eye on right now. These companies had the most money traded in their stocks among all blockchain companies recently.
What kind of services does Oracle offer?
Oracle Corporation sells computer programs and services to big businesses all over the world. Their Oracle cloud software includes many different online applications, like tools for managing business operations, checking performance, handling supply chains, and even healthcare systems.
What does Applied Digital do?
Applied Digital is a company that builds and runs data centers, which are huge buildings full of computers that store and process information. They focus on providing these services for high-performance computing, which is needed for things like blockchain and artificial intelligence.
What is Riot Platforms known for?
Riot Platforms is a company that mainly focuses on mining Bitcoin, which is a type of digital currency. They also have other businesses that support the Bitcoin network and the blockchain technology it runs on.
Are blockchain stocks a safe investment?
Investing in blockchain stocks can be a bit risky because the technology is still pretty new and changing fast. The value of these stocks can go up and down a lot, especially since they’re often linked to digital currencies like Bitcoin, which are also very unpredictable. It’s smart to do your homework and maybe talk to a financial expert before you invest.