NEW YORK, NY / ACCESSWIRE / July 25, 2018 / Bitcoin crossed over the $8,000 mark for the first time in two months on Tuesday, sending shares of Riot Blockchain catapulting. The company also announced on Monday the beta development of its own private Bitcoin Mining Pool. Shares of Bridgeline Digital were also gaining steam after announcing that a global engines manufacturer has launched its UK B2C eCommerce site on the company's Unbound Digital Experience Platform.
RDI Initiates Coverage on:
Riot Blockchain, Inc.
Riot Blockchain, Inc. shares skyrocketed on Tuesday, closing the day up 27.47% with additional gains seen in after-hours trading of nearly 3%. The stock saw big gains as cryptocurrency bitcoin hit over $8,000 for the first time since this past May. It was also this week that the company announced the beta development of its own private Bitcoin Mining Pool. The company focuses on building, supporting, and operating Blockchain technologies, primarily through its cryptocurrency mining operations and other internally developed businesses, as well as through potential joint ventures, acquisitions, and targeted investments in the sector. According to the ICO Journal which cited an unidentified source, the U.S. Securities and Exchange Commission is currently reviewing the application of a bitcoin ETF fund. The unnamed source stated that the approval odds were "90% at this point." The source also said, "The crypto markets have moderated and regulators have watched the lack of drama surrounding bitcoin futures across several global exchanges. In January we were justifiably concerned about a bubble and the harm a quickly approved product could attract speculators and create losses that led to significant lawsuits. Now, those factors seem to be mitigated significantly."
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Bridgeline Digital, Inc. shares were on the rise on Tuesday, closing the day with a gain of 7.33%. The stock saw explosive trading volume at 13.9 million shares traded compared to an average trading volume of just around 1.1 million shares. The provider in cloud-based Web Content Management, eCommerce and Marketing Automation solutions, announced yesterday that a global engines manufacturer has launched its UK B2C eCommerce site on the company's Unbound Digital Experience Platform. CEO and President, Ari Kahn, remarked, "This website launch is particularly rewarding, considering how complex of a solution our client required. This solution allows our client to be one of the first in their industry to expand into the digital commerce space, and it paves the way for their expanding global online presence with a focus on digital strategy and enhanced customer experience.” It was back in May that the company announced first quarter fiscal 2018 results. Kahn stated during the earnings call, "In the second quarter of fiscal 2018, we had revenue of $3.7 million, which is about $300,000 lower than our first quarter. The difference is primarily due to lower professional services with customers using more of the out-of-the-box features in our closed series and investments being made with key customer to enhance our product and create new sales opportunity. Recurring revenue was slightly lower compared to Q1, but was up year-to-date in the long-term nature of our staff contract gives us a strong recurring revenue stream that has our strongest gross margins."
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