Coinbase faces investor uncertainty amidst SEC lawsuit and stock fluctuations.
TL;DR Summary
Investment bank Berenberg has said that Coinbase shares are "uninvestable" in the near term due to the weak second-quarter 2023 trading volumes and the negative overhang created by the SEC lawsuit against the crypto exchange. Berenberg maintained its hold rating on the stock and slashed its price target to $39 from $55. The SEC's desired remedy would probably require the complete closure of Coinbase's core business in the U.S., and this will also weigh on the shares, the report added.
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- Cathie Wood's ARK Loads Up $15M Worth Of This Bitcoin-Linked Stock Despite Crypto Jitters - DraftKings (N Benzinga
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