Coinbase is trading as though it will “burn through all of its cash and then become insolvent,” Mark Palmer, BTIG’s equity research analyst said in a note. Eventually, investors will recognize an opportunity in the shares, he said, calling the stock drop “greatly overblown.” BTIG maintained a buy recommendation and lowered the price target to $380 from $500.
Related posts
-
Analyst Forecasts $44,000 Plunge On 200 Daily EMA Breakdown
The cryptocurrency market witnessed a significant setback as the Bitcoin price plummeted below the $58,000 level.... -
$5M Liquidation Sparks 17% Price Plunge
Dogecoin (DOGE) is getting battered by the recent crypto market downturn. The meme-based cryptocurrency took a... -
Crypto Bulls Rack up $580M Liquidations as Bitcoin Drops 8%, Ether, Solana, Dogecoin Plunge
Please note that our privacy policy, terms of use, cookies, and do not sell my personal...