Cipher Digital Inc. (CIFR) shares fell 12.65% on July 2, 2026.
The stock closed at $19.97 following the price drop.
An insider filed an SEC Form 144 indicating an intent to sell company shares.
This filing acted as a negative catalyst for a stock already in a downtrend.
The stock previously traded near $30 in mid-June.
Investor confidence weakened as a major shareholder signaled plans to reduce their holdings.
The company rebranded from Cipher Mining Inc. to Cipher Digital Inc. in February 2026.