We recently published 10 Stocks With 10-60% Upside. Riot Platforms Inc. (NASDAQ:RIOT) is one of the top performers on Monday.

Riot Platforms extended gains for a second day on Monday, jumping 11.81 percent to finish at $19.78 apiece as investors took path from optimism for Bitcoin to break past the $200,000 level and analysts’ positive ratings for its stock.

Riot Platforms Inc. (NASDAQ:RIOT) rallied alongside its counterparts, namely CleanSpark, MARA Holdings, and Galaxy Digital, after the latter’s chief executive turned highly optimistic for Bitcoin to hit the $200,000 territory, assuming a dovish chairman leads the Federal Reserve.

In other news, Riot Platforms Inc. (NASDAQ:RIOT) recently earned positive ratings from various analysts.

For its part, Citigroup raised its stock to “buy” from “hold,” while upgrading its price target to $24 from $13.75 previously, following an overall optimism for the high-performance computing (HPC) industry, buoyed by a number of billion-dollar partnerships. Riot Platforms Inc. (NASDAQ:RIOT) is transitioning to HPC services to capture and support the strong demand from the AI market.

Apart from Citi, the Bitcoin miner also gained an “overweight” rating from JPMorgan, an upgrade from the “neutral” previously, while raising its price target to $19 from $15.

While we acknowledge the potential of RIOT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.