Shares of Riot Blockchain Inc RIOT fell 30 percent Friday after a report by CNBC’s Michelle Caruso-Cabrera slammed the company for several red flags related to its business practices. Riot changed its name in October 2017 and was previously operating as a pharmaceutical company under the name Bioptix. After the name change and presumptive shift to blockchain technology, the stock’s price soared from around $3 per share to above $46 per share. Familiar Pattern Caruso-Cabrera said Riot Blockchain is demonstrating a troubling pattern of behavior. Attorney Richard Birns summed up the primary issues with Riot. “I see a company that has had a change of control of the board. I see a company that has had a change in business. I see a company that has had several dilutive issuances immediately following the change of the board and change of the business. And I see a stock that has gone zoom," Birns said. "And what I understand a significant amount of insider selling. So yes, these are red flags.” Caruso-Cabrera also pointed out that Riot Blockchain postponed major shareholder meetings at the last minute and filed excessively convoluted documents with the SEC. SourceIt's better to wait for more signals. $RIOT, Riot Platforms, Inc. / D