On August 7, Coinbase Global, Inc. rose 5.6% in regular trading, trading at $152.95/share, with turnover of $411 million. The rebound was driven by Cathie Wood's Ark Invest purchasing approximately $8 million worth of Coinbase shares, signaling institutional bullishness, alongside the company's launch of stock index perpetual-style futures for US users and 24/7 perpetual contracts on gold, silver, and crude oil.

The stock had been under pressure after Q2 earnings missed expectations, with revenue falling short and losses exceeding estimates. Multiple investment banks subsequently cut target prices, with JPMorgan lowering its target to $148 and Piper Sandler to $146. However, with the stock approaching these downside targets following a steep correction, the combination of institutional accumulation and derivatives business expansion provided a catalyst for a technical rebound. Options flow on the day also reflected a moderately bullish stance, with a cross-dated call spread netting $1.36 million and near-the-money put selling suggesting confidence in downside support.

(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.)