Coinbase Global ( (COIN) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Coinbase Global’s stock has been downgraded by Compass Point, primarily due to concerns about its current valuation and a decline in retail demand. This downgrade comes on the heels of a significant drop in share prices following weaker-than-expected earnings, which were affected by lower trading volumes and seasonal market conditions. Analysts also point to increasing competition from stablecoins and a disappointing performance in Coinbase’s Subscription and Services revenue as factors impacting its valuation.
More about Coinbase Global
YTD Price Performance: 22.35%
Average Trading Volume: 15,070,914
Technical Sentiment Signal: Buy
Current Market Cap: $81.11B
For further insights into COIN stock on TipRanks’ Stock Analysis page.
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