Coinbase, Circle, MicroStrategy stocks surge on crypto rebound

Nearly all the major crypto-linked stocks surged on Sep. 3 following the rebound in the crypto market.

The Coinbase Global (Nasdaq: COIN) stock surged more than 10% to trade above $193. The largest crypto trading exchange in the United States, Coinbase launched derivative contracts in Canada on Sep. 2.

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The Circle Internet Group (NYSE: CRCL) stock also surged more than 15% to trade above $102 today. The crypto giant, well-known for the USDC stablecoin, last week announced a partnership deal with Chelsea FC. 

The shares of Strategy (Nasdaq: MSTR), formerly MicroStrategy, rallied nearly 15% to trade above $141. The company disclosed earlier this week that it finally bought Bitcoin after two months.

The Bitmine Immersion Technologies (NYSE: BMNR) stock rose 13% to trade above $26 today. The company disclosed Monday that it holds 5.9 million Ethereum (ETH) and 211 Bitcoin (BTC).

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The shares of Robinhood Markets (Nasdaq: HOOD), the e-brokerage popular for its stock, crypto, and tokenized equities offerings, surged more than 15% to trade above $124 today. Morgan Stanley recently raised its price target from $124 to $150.

The Galaxy Digital (Nasdaq: GLXY) stock rose more than 11% to trade at $26 today. Morgan Stanley also raised its price target from $37 to $48.

The surge follows a rebound in the crypto market.

Bitcoin (BTC) surged nearly 5% in the last 24 hours to trade at $80,982.09. Ethereum (ETH) surged 4.5% to $2,497.93, and XRP around 9% to $1.45. 

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