Bernstein yesterday initiated coverage of COIN with an "outperform" rating
President Donald Trump's plans to create a strategic crypto reserve generated sector tailwinds earlier this month. Below, let's take a closer look at how shares of Coinbase Global Inc (NASDAQ:COIN), Hut 8 Corp (NASDAQ:HUT), and MicroStrategy Inc (NASDAQ:MSTR) have been faring since that announcement.
COIN is up 3.9% to trade at $187.81 at last check, after Bernstein yesterday initiated coverage with an "outperform" rating and set its price objective at $310, implying roughly 70% upside. The shares have been testing support at the $180 mark since pulling back to their lowest level since early November. Though the equity is today pacing for a close in the black, it still carries a 25.6% year-to-date deficit.
HUT s 4.8% higher to trade at $12.65 at last glance, attempting to distance itself from a March 10 drawdown to its lowest level since October. The 20-day moving average has been acting as an area of resistance since late January, and so far in 2025 the equity has shed 38.4%.
MSTR was last seen down 5.4% to trade at $298.50, looking to add to its 107.8% year-over-year lead, now swinging into the black year-to-date. The stock has been struggling to recover from the pullback it suffered after hitting a record peak of $543 in November, but support at the $240 region remains firmly in place.