GLXY, RIOT, KEEL Stocks Dip Despite ‘Buy’ Rating From Chardan – Retail Traders Celebrate The Catalyst

• Citing their shift from Bitcoin mining to AI-driven high-performance computing, Chardan initiated coverage of GLXY, RIOT, and KEEL with ‘Buy’ ratings.
• Citing a $5 billion Pennsylvania data center, a robust cash position, and an expanding 2.2 GW pipeline, retail traders on Stocktwits were optimistic about KEEL.
• As mining firms move toward data center leases with steady, long-term cash flows, the firm saw a chance to reevaluate valuations.

Galaxy Digital (GLXY), Riot Platforms (RIOT), and Keel Infrastructure (KEEL) stocks moved lower in midday trade on Monday despite getting a ‘Buy’ rating from Chardan analysts after they initiated coverage of the crypto-linked equities.

GLXY’s stock got a price target of $35, which implies an upside of around over 29% from current levels. RIOT’s stock was initiated with a target of $27.50, implying an upside of over 33%, and KEEL’s stock got a target of $4.50, implying an upside of over 33%. 

Chardan cited the companies’ transition from Bitcoin (BTC) mining to high-performance computing associated with artificial intelligence as the primary driver.

The firm highlighted a potential “valuation re-rate opportunity” as these companies transition power capacity to long-duration data center leases that provide more stable cash flows. It added that demand for computing is still in its early stages and is likely to grow substantially as AI applications increase.

How Retail Users Are Reacting To RIOT And GLXY?

RIOT’s stock was down over 2% in midday trade. On Stocktwits, retail sentiment around RIOT remained in the ‘bullish’ zone, while chatter stayed at ‘high’ levels over the past day.

GLXY’s stock tumbled over 5% in midday trade, with retail sentiment in the ‘bullish’ zone, while chatter around it stayed at ‘normal’ levels over the past day.

Retail traders on Stocktwits were optimistic about the coverage. One user stated they “couldn’t resist buying a few more” shares of Galaxy Digital. Keel Infrastructure also witnessed favorable retail buzz following the ‘Buy’ rating, with posts highlighting the new price target and upside potential.

How Retail Users Are Reacting To KEEL?

One user cited several bullish catalysts for KEEL that they think should push the stock higher. Recent developments include the “major catalyst” – a $5 billion data center in Sharon, Pennsylvania, which has received zoning approval and will begin building in October. 

KEEL’s stock was down over 6% in midday trade. On Stocktwits, retail sentiment around KEEL remained in the ‘extremely bullish’ zone, while chatter around it stayed in ‘high’ levels over the past day.

Read also: Morgan Stanley Sees Big Upside In WULF, CIFR, MARA After Bitcoin Miners Pivot To AI Data Centers

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