optimistic

CITIC Construction Investment Research Report points out that the following factors will determine the trend of the third quarter market: In terms of fundamentals, AI computing power remains at a high level of prosperity, with mid-year performance and overseas financial reports worth paying attention to. At the same time, since April, under pressure from the macro economy, the economic measures from the Politburo meeting in July are quite important; In terms of liquidity, external disturbances have increased, while internal conditions remain neutral; In terms of risk appetite, geopolitical events and the listing of industry giants will cause short-term fluctuations in the market. Considering the global tech stock correlation effect, major overseas computing powers such as Japan, South Korea, and the United States also need to be continuously monitored.In terms of industry allocation, although the logic of AI computing power remains unchanged, volatility has intensified. It is recommended to be cautious about chasing highs and to position during pullbacks; lithium batteries are expected to welcome a peak season, and energy storage demand continues to warm up, while new energy presents opportunities for phased valuation recovery; dividends are expected to rebound from oversold conditions, with relatively high cost-performance ratios. Key areas to focus on: banks, coal, public utilities, AI, optical modules, storage, chips, industrial metals, lithium battery materials (VC), etc.

According to CoinDesk, Ripple CEO Brad Garlinghouse stated in an interview with CNBC that he remains optimistic about Bitcoin but believes that Strategy's model of financing Bitcoin purchases through preferred stock has harmed the crypto market.Garlinghouse said, "Financial engineering will not drive long-term value." He believes that the long-term value of any digital asset comes from its utility and stated, "Michael Saylor's team is not focused on the right things, which harms the overall market."The focus of Garlinghouse's criticism is the financing mechanism used by Strategy to accumulate Bitcoin. For about the past year, Strategy has raised funds through the issuance of preferred stock to continue purchasing Bitcoin. Its STRC stock has an annual dividend yield of 11.5%, designed to trade close to $100.Garlinghouse pointed out that STRC is currently about 25% below that level, which is a "harsh denial" of the strategy. STRC hit an all-time low on Thursday, at one point trading about 26% below par value. Meanwhile, Strategy's common stock fell to its lowest level since February 2024, closing around $82 on Friday; Bitcoin dropped below $59,000.This week, Strategy's financing model is facing more pressure. CryptoQuant stated that Strategy should pause Bitcoin purchases and rebuild cash reserves. The coverage period for STRC dividend payments has shrunk from over 7 years to about 14 months. When STRC falls below $100, the mechanism of issuing stock and purchasing Bitcoin will stall, which is also the reason for the company to pause this mechanism.Benchmark-StoneX analyst Mark Palmer believes that Strategy's financing engine has simply become "less efficient," rather than having failed, and opposes comparing STRC to assets that have completely collapsed.

According to Jinshi reports, JPMorgan has raised its year-end target for the S&P 500 index to 7,800 points, believing that the outlook is approaching a "clear sky" scenario.

According to The Block, Benchmark Equity Research maintains a buy rating on Coinbase, with a target price of $270, representing an upside of approximately 59.5% from the current stock price. Analyst Mark Palmer stated that Coinbase's recent system updates clearly demonstrate its rapid transformation from a cyclical crypto broker to an infrastructure platform connecting the on-chain economy with traditional finance.The report highlights Coinbase's product advancements in tokenized U.S. stocks, stock and crypto options, prediction markets, AI investment tools, and agentic payment infrastructure, as well as its prior approval from the CFTC to operate as a Futures Commission Merchant (FCM), allowing it to offer global crypto perpetual contracts and options trading to U.S. clients through Deribit. Benchmark believes these initiatives further confirm that Coinbase is continuously expanding its business boundaries beyond spot crypto trading.

Coinbase CEO Brian Armstrong posted on the X platform that he remains optimistic about Bitcoin as always and still holds a long-term bullish position. He stated that the situation is never as good or as bad as it seems.

According to Jinshi reports, CITIC Construction Investment pointed out that SpaceX landed on NASDAQ with a valuation of $1.75 trillion, raising $75 billion, and its market value surpassed $2 trillion on the first day, becoming the seventh largest technology company in the world and creating the largest IPO in history. Its three major businesses: Starlink, reusable rockets, and space AI validate the commercial closed loop, accelerating the commercialization process of the space economy. In 2026, several liquid rockets in our country will have intensive maiden flights and recovery tests, which are expected to significantly reduce launch costs and accelerate constellation construction. It is recommended to pay attention to:Rocket segment: high-barrier fields such as engines and rocket body structures;Satellite segment: payloads, antennas, and laser communication terminals;Ground equipment: civilian terminals and mobile direct connection technology;Operational services: companies with scarce license qualifications.

According to Jinshi reports, Wall Street's most optimistic forecasting agency, Yardeni, has set a target value of 8,250 points for the S&P 500 index. Although the index has surpassed 7,600 points, the agency recently stated it would become cautious, pointing out that factors such as tensions in the Middle East, oil supply risks, potential tightening policies from the Federal Reserve, and upcoming initial public offerings are causing market volatility. Nevertheless, the agency remains optimistic about the future, believing that strong earnings growth and AI-driven economic growth will drive market development.

Well-known investor Duan Yongping recently expressed his continued optimism about Pop Mart's future overseas growth potential during discussions with investors. He believes that Pop Mart has high requirements for store location selection, and since quality commercial location resources are scarce, the construction of a global store network will take a long time. With the advancement of the internationalization strategy, the company still has significant store expansion space in overseas markets over the next 5 to 10 years.Recently, Duan Yongping's increased stake in Pop Mart through H&H International Investment has attracted market attention. Public information shows that on May 25, he purchased approximately 9.8232 million shares at about HKD 150 per share, raising his shareholding ratio to 5.69%, making him the company's second-largest shareholder, with a holding market value exceeding HKD 11.7 billion.Driven by market sentiment, Pop Mart's stock price has continued to strengthen recently. Data shows that the company's stock price rose by 8.98% yesterday, and based on the size of his holdings, Duan Yongping's paper profit for the day was nearly HKD 1 billion.It is noteworthy that Duan Yongping's investment attitude towards Pop Mart has undergone a significant change. He had previously publicly stated that he "did not understand" the related business, but as the company's business model gradually matures, he has begun to significantly increase his holdings and is optimistic about the company's long-term development.After becoming the second-largest shareholder, Duan Yongping publicly praised Pop Mart's founder Wang Ning, believing that he has reached a very high level in understanding products and grasping user needs, and stated that he has become a supporter of Wang Ning. He also pointed out that Pop Mart has validated the sustainability of its business model and established strong competitive barriers, possessing long-term investment value.Public information shows that Duan Yongping has further increased his allocation ratio to Pop Mart this year and adjusted some of his holdings in traditional energy sectors to this company, expressing his optimism about its long-term growth prospects.

Bankless founder David Hoffman explained his reasons for liquidating his ETH holdings in a post on X.Hoffman wrote: "I remain extremely optimistic about the Ethereum network and the entire ecosystem ------ Ethereum's architectural design exists to maximize the success probability of its applications, L2, and ecosystem. The 'fat-app' theory means that applications on Ethereum can capture the vast majority of transaction fee revenue; while the 'Rollup-centric' roadmap means that L2 can achieve profit margins of up to 97%.However, for the asset ETH itself, I find it increasingly difficult to see it being repriced by the market on a structural level ------ whether upwards or downwards. Therefore, my selling of ETH is not because I am bearish on ETH, but because I believe the narrative of 'ETH is Money' has essentially played out. I hope to allocate my funds to other opportunities in the market that I see."

Ark Invest founder Cathie Wood shared her price predictions for Bitcoin over the next 5 years, with a base case target price of $750,000 and an optimistic case target price of $1,250,000. Cathie Wood stated that the key factors driving Bitcoin's rise include the gold substitution effect, Bitcoin's properties as an "insurance asset," and ongoing institutional adoption.

According to Jinshi News, UBS Global Wealth Management has raised its year-end target for the S&P 500 index to 7,900 points, while Morgan Stanley has raised it to 8,000 points. UBS believes that despite the negative impact of the Middle East conflict, the U.S. stock market still shows resilience and is expected to rise another 6% in the second half of the year. Morgan Stanley expects the S&P 500 index to reach 8,300 points in the next 12 months, mainly benefiting from a year-on-year profit growth of about 27% in the first quarter.

Tom Lee, the chairman of BitMine, Ethereum's largest treasury, stated that Ethereum has a strong group of leaders and developers who can ensure it continues to be the future settlement layer for finance and AI.Currently, much of the bearish sentiment is just despair and mutual blame at the bottom of the crypto winter. Blockchain is the only viable way for agentic AI to conduct business interactions while significantly improving the profitability of the financial system. I will continue to be optimistic about ETH.

According to Jinshi reports, Federal Reserve's Goolsbee stated that he is optimistic about a significant decrease in interest rates, but progress needs to be made on inflation.

Bernstein reiterated its "Outperform" rating on Figure Technology Solutions (FIGR) and maintained a target price of $67, implying about a 72% upside from the current stock price of $38.97. Figure's Q1 2026 performance was strong: loan issuance reached $2.9 billion, a year-on-year increase of 113%; adjusted revenue was $167 million, a year-on-year increase of 92%, exceeding market expectations by 6%; adjusted EBITDA was $82.7 million, with a profit margin of about 50%, slightly above market expectations. However, the GAAP diluted EPS was $0.18, about 9% below expectations, primarily impacted by $26 million in equity incentive expenses.Bernstein's analysis suggests that this performance should reshape the market's perception of Figure, as it is not a traditional credit company, but rather a "tokenization-driven capital market platform," with core profits coming from network fees and operational leverage, and it maintains a pricing model based on a 25x EBITDA valuation for 2027. Additionally, the tokenization ecosystem continues to expand: the yield-bearing security token YLDS reached $598 million (up 80% quarter-on-quarter); the balance of stock lending products was $368 million (up 79%); and the small business loan segment contributed $6 million in revenue. Figure's current stock price is still not far from the 2025 IPO issue price of $36, but there remains a significant gap from the historical high of $78.

According to Jinshi News, Asian stock markets are expected to perform weakly when they open on Tuesday, as investors turn their attention to the earnings reports of U.S. tech giants with a total market capitalization of nearly $16 trillion. Walter Todd, president and chief investment officer of Greenwood Capital Associates, stated that the U.S. stock market has rebounded to historical highs, seemingly ignoring the ongoing geopolitical risks, mainly due to upward revisions in earnings expectations and improved market sentiment. He warned that any cracks in optimistic expectations could pose significant risks to market trends.

Dragonfly Capital partner Haseeb tweeted that despite recent issues such as bad debts with AAVE, he remains optimistic about the long-term development of DeFi.Haseeb pointed out that the DeFi industry learns and progresses through repeated failures. Whether it was the collapse of Terra, the failed auction on Black Friday in 2020, or the stETH de-pegging incident in 2022, DeFi has repeatedly faced setbacks, but it becomes stronger after each failure. This is no different from TradFi—traditional finance has also experienced multiple failures, such as the 2008 banking crisis, the lending crisis, and the savings and loan crisis of the 1980s.The core of DeFi is risk aversion and resilience. Even with some bad debts like those of AAVE, the protocol has enough equity to cover the losses, and these failures are not fatal. He emphasized that DeFi will not disappear, and the intense discussions around how to improve DeFi are part of its ongoing progress. He is bullish on DeFi and on this community.

Liquid Capital founder Yi Lihua posted on X platform: "With the opening of the Strait of Hormuz, the war has officially ended. I still hold the view that neither side has a reason to continue fighting; peace is the only best choice. I remain optimistic about this rebound, with the S&P hitting new highs, MicroStrategy continuing to buy, and Hawthorn Coin taking turns to perform. There is currently no reason to take profits."

Liquid Capital founder Jack Yi tweeted, "As Iran is willing to give up uranium enrichment as a compromise to end the war, the war is progressing towards a complete end as expected, hoping that world peace is not just an empty slogan. At the same time, the structural bill will eventually pass, and I remain optimistic about this rebound market, unless the guns start firing again.Recently, I've seen many people get liquidated in altcoin contracts. Altcoins themselves are high-risk, and adding contracts makes it a guaranteed losing game, especially when your opponent controls the chips, capital, and technology. Buffett is right; slowly getting rich is the best way. No matter how skilled you are, winning five times in a row and losing everything on the sixth is not a normal business model."

According to Jinshi citing Fox News reports, White House officials stated that Trump is optimistic about reaching an agreement with Iran.

According to Bloomberg, informed sources revealed that Anthropic employees have sold a portion of their equity to investors, completing a secondary equity sale that began earlier this year. However, due to the limited number of shares employees were willing to sell, some investors were unable to acquire as many shares as planned. Informed sources stated that the offer price for this acquisition is the same as the company's most recent financing valuation from February of this year. According to its latest transaction, the company's valuation is $350 billion.The total amount of the share sale has not been disclosed, but some individuals indicated that its scale is below the $6 billion raised by investors. Anthropic employees hope to retain more shares before the company's upcoming initial public offering (IPO), which is expected to take place as early as this year.One individual stated that this lower-than-expected transaction indicates that employees are optimistic about the company's prospects as its annual revenue rises. Last month, the company's annual revenue exceeded $19 billion. By April, Anthropic announced that its annual run rate revenue had surpassed $30 billion.