On July 16, Cipher Mining fell 5.06% in regular trading, trading at $19.02/share, with turnover of $24.79 million. The stock has been under sustained pressure as CEO Tyler Page continued large-scale share disposals.
According to regulatory filings, Page sold a combined 225,000 shares between July 8 and July 9, netting approximately $4.94 million. This follows cumulative sales of over 350,000 shares from late June through early July. After the transactions, Page still holds approximately 9.37 million common shares. Additionally, other executives including Kelly Patrick Arthur and William Iwaschuk also sold shares on June 30, amplifying the breadth of insider selling signals.
Despite the selling pressure, Bernstein initiated coverage on the stock in early June with an Outperform rating and a $32 price target. The company also announced earlier a $2 billion senior secured notes offering through its subsidiary Black Pearl Compute to fund data center construction. Nevertheless, the persistent insider disposals have weighed heavily on near-term sentiment.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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