See all posts by Edward Sheldon, CFA Enter Your Email Address “This Stock Could Be Like Buying Amazon in 1997” I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Simply click below to discover how you can take advantage of this. Edward Sheldon has no position in any shares mentioned. The Motley Fool UK owns shares of and has recommended Tesla. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Our 6 ‘Best Buys Now’ Shares Edward Sheldon, CFA | Monday, 17th May, 2021 | More on: ARB Should I buy Argo Blockchain stock after the share price crash? Image source: Getty Images. Argo Blockchain (LSE: ARB) shares have experienced a nasty sell-off recently. Last week, Argo’s share price fell as low as 115p. That’s about 66% below the stock’s all-time high of 340p, achieved in February. Over a year, the stock is still up about 3,000% however.Personally, I’m not surprised by the recent share price fall. When I covered the stock in February, I wrote that the company’s market-cap of £850m+ – which equated to around £1.7m per Bitcoin held – looked “too high”. More recently, in April, I said that Coinbase’s arrival on the stock market may impact demand for the stock.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Has the share price fall changed my view on the stock? Let’s take a look at the investment case now.Argo Blockchain continues to growRecent news from Argo Blockchain has been encouraging. For example, in Argo’s full-year 2020 results, posted on 9 April, the company reported revenue of £19m, up 120% year-on-year. It also reported a net profit of £1.7m, versus a £0.7m net loss in 2019. During the year, the group mined 2,465 Bitcoins. That represented an 85% increase on the number of BTC mined in 2019.More recently, on 4 May, the company provided a healthy trading update for April. It advised that, last month, it mined 163 Bitcoin compared to 165 BTC in March. Mining revenue in April amounted to a record £6.7m (March 2021: £6.57m).Looking at these updates, it’s clear Argo Blockchain still has momentum.Argo Blockchain shares are riskyBut I still see Argo Blockchain as a very risky stock. One reason is it has very little control over its revenues. In other areas of technology, such as Software-as-a-Service (Saas), companies can incrementally improve their offerings and subsequently hike their prices, increasing their revenues on a regular basis.Argo can’t do this. It’s at the mercy of the price of Bitcoin, which is highly volatile. On top of this, it’s also at the mercy of crypto ‘influencers’, such as Tesla CEO Elon Musk. When Musk tweeted that Tesla will no longer be accepting payment in Bitcoin, due to sustainability concerns, the price of Bitcoin crashed (and so did Argo’s share price).With Argo having little control over its revenues, it’s impossible to make accurate forecasts. This means Argo is a speculative investment.Another reason I see ARB as risky is that there are few barriers to entry in this industry. Competitors could easily come into the market and steal market share.Finally, the valuation still looks expensive to me. This year, analysts expect Argo Blockchain to generate earnings per share of 0.70p. This means at the current share price, the stock has a forward-looking price-to-earnings ratio of about 211. That looks too high to me, given the lack of barriers to entry and the unpredictability of revenues.ARB shares: my move nowGiven the risks, I’m going to continue to leave Argo Blockchain shares alone. All things considered, I think there are much better growth stocks I could buy today. Like this one… I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge!