Why Cipher Mining Stock Popped by Nearly 14% on Monday

Cryptocurrencies weren't doing all that well on Monday, but you wouldn't know that from the performance of Cipher Mining (NASDAQ: CIFR) stock. The Bitcoin (CRYPTO: BTC) miner and, increasingly, artificial intelligence (AI) infrastructure specialist was the subject of a bullish new analyst note from a well-known investment bank. Encouraged by this, market players traded the stock up by almost 14% across that trading session. Well before market open that day, a Morgan Stanley team led by pundit Stephen Byrd initiated coverage of three Bitcoin miners -- in addition to Cipher Mining, the report also covered TeraWulf and Mara. Byrd tagged both Cipher Mining and TeraWulf with overweight (read: buy) recommendations, but slapped an underweight (sell) label on Mara. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool