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Share Facebook Twitter LinkedIn Pinterest Email Google News' now to get latest article notification text size Coinbase stock has more than doubled so far in 2023. Michael Nagle/Bloomberg Coinbase Global In the year Stocks rocketed in 2023, and one bearish analyst opined that bitcoin prices and volumes on the cryptocurrency exchange platform are “getting up.”Divorce?” Coinbase stock (ticker: COIN ) has rocketed about 130% this year. Shares rose on news of a legal win, paving the way for a spot in crypto asset manager Grayscale Investments. Bitcoin Exchange-traded funds. Another token, XRP, created in July by Ripple Labs, which said it does not qualify as a securities transaction, also boosted Coinbase stock. Mizuho’s Dan Dolev maintained his overall downgrade on Coinbase stock after downgrading it from neutral in December. The $27 price target is a far cry from the $80.62 Coinbase stock closed on Monday. Newspaper registration Barron’s Daily A morning roundup of what you need to know about the day ahead, including exclusive commentary from Barron’s and MarketWatch writers. Dolev wrote in a research note on Tuesday: “Is the adage ‘as Bitcoin goes, so goes Coin’ any longer valid? In the past, get upThe price of Bitcoin has boosted retail participation. He added, “Unlike previous cycles, [fear of missing out] It does not entice investors to trade Bitcoin when it has risen in value in previous years. Dolev wrote: “With retail accounting for 95% of trading revenue, we worry that the YTD rise in Coin stock is unsustainable. We expect a fact check to follow. The reality check he sees isn’t here yet. Coinbase shares rose 3.3% to $83.30 in Tuesday morning trading. Coinbase did not immediately respond to a request for comment. Write to Karishma Vanjani at [email protected].
