24H｜Some Crypto Stocks Gain; US-Traded Brazil Shares Dip; Wolfspeed Drops Another 5%
Some crypto stocks gained in overnight trading. Upexi rose 8%; Cantor Equity Partners rose 5%; SharpLink Gaming and SRM Entertainment rose 4%; Bit Digital and Canaan rose 3%; Bitcoin Depot and BTC Digital rose 2%; Bitfarms rose 1%.
Bitcoin surged past $112,000 for the first time, setting a fresh record alongside a broad rally in risk assets that has swept up technology stocks big and small. The original cryptocurrency rose as much as 3.1% to $112,009, pushing its gain this year close to 20%.
U.S. shares of Brazilian companies dipped in overnight trading after President Donald Trump said his administration will charge Brazil with a 50% tariff on products sent to the U.S. starting August 1. iShares MSCI Brazil ETF fell 2%; U.S. shares of Petroleo Brasil last down 0.7%, Embraer down ~6%.
Wolfspeed shares dropped another 5% in overnight trading. Wolfspeed stock is seeing sell-offs Wednesday after posting huge gains across Monday's and Tuesday's trading. The rally for the stock stemmed from the company naming its next CFO, but the gains were likely out of step with the significance of the appointment.
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