On July 30, Cipher Mining Inc. surged 16.82% in regular trading, reaching $22.425 per share, with turnover of $208 million. The stock staged a powerful reversal following a multi-day sell-off that had seen it drop over 8% on July 28 and an additional 5-6% on July 29 amid broad AI infrastructure fund outflows.

On the catalyst front, Chardan recently initiated coverage of Cipher Digital with a Buy rating and a $32 price target. The consensus analyst target stands at $32.75, implying significant upside from current levels and providing strong sentiment support. The company also announced participation in upcoming investor and industry conferences, with its Q2 earnings update scheduled for August 4 pre-market.

The prior sell-off was driven by market concerns over capital expenditure requirements, potential equity dilution, and intensifying competition from Chinese semiconductor companies. The sharp reversal mirrors dynamics seen on July 23 when tech momentum stocks experienced an epic short squeeze, with Cipher Mining surging over 11% in a single session as heavily shorted names saw forced covering.

(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.)