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Some of the major Wall Street brokerages have initiated coverage on Riot Platforms, DoorDash and Dave Inc. While Wall Street has taken a bullish stance on these stocks, retail investors are maintaining caution. Let’s take a look at what is keeping retail enthusiasm at bay.1. Riot Platforms: Stifel initiated coverage of Riot Platforms with a ‘Speculative Buy’ rating along with a price target of $18. The analyst forecasted that the firm is headed toward a turning point despite past operational winds. &nbsp;Additionally, the company recently acquired Block Mining Inc, a Kentucky-based vertically integrated Bitcoin miner, for a total value of $92.50 million. The firm believes the acquisition will immediately increase its hash rate, expand its geographic footprint, and provide exposure to additional energy markets outside of ERCOT.Even JPMorgan reportedly said the acquisition made sense given that it brings diversification into the firm’s power supply as well as raises its capacity to over 2 gigawatts.Still, retail sentiment is currently trending in the neutral zone (51/100) as investors await more information from the bitcoin miner's earnings report after the market-close on July 31. Some analysts expect the firm’s revenue and operating income to miss Street estimates.<figure class="image"><a href="https://stocktwits.com/symbol/RIOT"><img style="aspect-ratio:1580/436;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/Screenshot_2024_07_26_at_1_11_40_PM_c45415b221.png" alt="Retail sentiment trends in the neutral territory for Riot Platforms" width="1580" height="436"></a><figcaption>Retail sentiment trends in the neutral territory for Riot Platforms</figcaption></figure>2. DoorDash: Redburn Atlantic has initiated coverage of DoorDash with a ‘Buy’ rating with a price target of $170. The analyst believes DoorDash is well positioned to report industry-leading, above-consensus volume growth and has multiple levers to reach above-consensus adjusted operating income.Despite the price target offering a potential upside of over 60%, retail investor sentiment is trending in the bearish territory (29/100) supported by high message volume. Investors are maintaining caution on the stock given the fact that the firm had provided a disappointing forecast in the first quarter. It is also noteworthy that many of its peers have turned profitable but the firm, which operates the largest food delivery service in the US, is yet to cross that bridge.3. Dave Inc: Lake Street has initiated coverage of digital banking service Dave Inc with a ‘Buy’ rating and a price target of $53 — leaving a potential upside of 55%. The analyst believes that the company’s short-term ExtraCash advances and mobile banking platform are increasing share in the underserved segments of the market.Following the news, retail sentiment has improved to neutral (47/100) from bearish a day ago.<figure class="image"><img style="aspect-ratio:1576/444;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/Screenshot_2024_07_26_at_1_13_51_PM_9ba557da4c.png" alt="Retail sentiment trends in the neutral zone for Dave Inc" width="1576" height="444"><figcaption>Retail sentiment trends in the neutral zone for Dave Inc</figcaption></figure>Retail investors remain concerned about the Consumer Financial Protection Bureau’s (CFPB) rule proposal that may require some earned wage access (EWA) providers to be subject to federal lending laws. Moreover, they want to see additional quarters of positive net income to prove that the company has firmly crossed the threshold into profitability.Jason Wilk, Founder and CEO of Dave said in a statement that the firm is closely monitoring the proposed interpretive ruling from the CFPB around paycheck advance and EWA, a model which Dave was originally founded on, but transitioned away from beginning in 2022 due to a lack of certainty around the regulations.Photo Courtesy: Unsplash

Wall Street Initiations: Retail Cautious On Riot Platforms, DoorDash, And Dave Inc. Despite Analyst Enthusiasm

Retail investors are neutral on Riot Platforms and Dave Inc but have taken a bearish stance on the US’ largest food delivery service

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DoorDash, Inc. engages in the design, development, and operation of a food delivery and logistics platform. It serves consumers in the United States, Canada, and Australia. The company was founded by Andy Fang, Tony Xu, Stanley Tang, and Evan Moore on January 12, 2013, and is headquartered in San Francisco, CA.

Volume	4.03M
52-Wk High	$143.34
52-Wk Low	$69.90

DASH DoorDash Inc - Ordinary Shares - Class A

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