10 Promising Stocks to Buy Under $50

2. Riot Platforms, Inc. (NASDAQ:RIOT)

Share Price as of January 9: $15.66

Average Upside Potential as of January 9: 67.53%

Number of Hedge Fund Holders: 57

Riot Platforms, Inc. (NASDAQ:RIOT) is one of the promising stocks to buy under $50. On December 22, Citi lowered the firm’s price target on Riot Platforms to $23 from $28, while maintaining a Buy rating on the shares. Despite updating its valuation models, Citi remained positive on digital assets heading into 2026. Citi still expects looming regulatory reforms to drive stock performance across the sector.

In Q3 2025, Riot Platforms, Inc. (NASDAQ:RIOT) generated a total revenue of $180.2 million, which more than doubled the $84.8 million reported in Q3 2024. The revenue surge was primarily fueled by a $93.3 million year-over-year increase in Bitcoin mining revenue, as the company produced 1,406 Bitcoin during the quarter.

Furthermore, while revenue grew, the company’s own hash rate deployment of 3% was outpaced by an 8% increase in global network competition. To mitigate energy costs, Riot effectively utilized its Power-First Strategy, earning $23 million in cumulative capital expenditure savings through its engineering business and significant power credits.

Riot Platforms, Inc. (NASDAQ:RIOT), together with its subsidiaries, operates as a Bitcoin mining company in the US.