Cryptocurrency-related stocks experienced gains as the prices of cryptocurrencies increased. MicroStrategy, a company that acts as a proxy for Bitcoin, saw its shares rise nearly 5%, with Coinbase, a cryptocurrency service provider, gaining over 2%. Additionally, miners Mara Holdings and Riot Platforms also recorded increases of more than 2% each.
In regulatory news, VeriSign’s stock rose more than 3% in premarket trading. This surge followed the announcement that Berkshire Hathaway, led by Warren Buffett, acquired additional shares of VeriSign. The conglomerate purchased 76,487 shares over the last few days, increasing its total holdings to 15.6 million.
On a more negative note, Sangamo Therapeutics experienced a dramatic decline of more than 54% after it was revealed that Pfizer had terminated their co-development agreement concerning a gene therapy for hemophilia A. Sangamo now retains the rights to the product and is considering options for its further development, whereas Pfizer’s stock rose by 0.3%.
EQT, an energy company, reported a profit increase of less than 1% after ending its midstream joint venture with Blackstone. The partnership allowed EQT to pay down part of its debt with a net receipt of $3.5 billion from Blackstone. However, EQT’s stock has faced challenges this quarter amid fluctuating natural gas prices.
Tesla saw a resurgence in its stock, climbing 1.7% and signaling a possible year-end bull run as it rebounds from three consecutive sessions of declines. Despite recent downturns, Tesla shares rose almost 21% in December, culminating in an annual gain of about 68%.
Super Microcomputer’s shares were unstable, initially rising slightly but also facing a significant drop, following a poor performance in the prior session. The stock has still managed an approximate 8% increase for the year, though it has lost approximately 6% this month.
Finally, Nvidia, the chip manufacturer, added nearly 1% to its previous day’s gains, furthering the company’s recent positive performance. Previously, Nvidia was the only stock in the Dow Jones Industrial Average to finish in the green during the last session, marking a 0.4% increase.