Why Cipher Digital Stock Plummeted 30.6% Last Month But Is Rebounding in September
Cipher Digital stock has seen substantial volatility in recent months, but it's still up roughly 18% year to date.
Overview
Cipher Digital (NASDAQ: CIFR) reported its second-quarter results at the beginning of last month, kicking off a big pullback for the stock. The company's share price fell 30.6% in the month, according to data from S&P Global Market Intelligence.
Cipher published its Q2 report on Aug. 4 and posted sales and earnings for the period that were below Wall Street's forecasts. While the company's share price saw a substantial pullback following softer-than-expected Q2 results, the stock has rebounded this month on news of new data-center development.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.