Premarket Movers | Optical Stocks Shine with Coherent Up over 3%; Crypto Stocks Gain with Robinhood Up 2%

Optical stocks shined in premarket trading. AAOI, Fabrinet, Coherent, POET, Astera Labs up over 3%.

NVIDIA CEO Jensen Huang and Coherent CEO Jim Anderson jointly attended the groundbreaking ceremony for the company's indium phosphide wafer fabrication facility expansion in Sherman, Texas.

The project focuses on 6-inch indium phosphide wafers and optical interconnect capacity, with production area set to double and wafer capacity to increase fourfold upon completion. Simultaneously, the company announced securing $50 million in dedicated funding under the U.S. CHIPS Act, formalized through a preliminary agreement with the Department of Commerce.

Crypto stocks gained in premarket trading. SoFi, Cipher Mining, IREN up around 3%; APLD, CLSK, Robinhood up over 2%.

Reports emerged that the SEC is considering allowing tokenized stocks under a proposed innovation exemption, which would enable blockchain-based versions of traditional equities to trade 24/7 with near-instant settlement.

Robinhood, as a crypto-enabled brokerage, stands to benefit directly from such regulatory shifts. Additionally, Deutsche Bank raised its target price from $98 to $105 while maintaining a buy rating, citing the company's recent 10% workforce reduction to lower costs alongside record daily trading volumes in stocks, options, and prediction markets throughout June.