On September 4, Coinbase Global, Inc. fell 3.48% in pre-market trading, trading at $185.78/share, with turnover of $25.40 million. The decline comes after the stock surged approximately 9% in the prior session alongside a broad crypto-sector rally.
On the news front, Coinbase's Chief Policy Officer disclosed that the company has filed registration documents with the U.S. Securities and Exchange Commission to offer stock perpetual warrants in the United States, a move that may raise dilution concerns among investors. Meanwhile, the prior session's sharp rally in crypto-related stocks — driven by Bitcoin's return above key levels and broader macro tailwinds — left significant short-term profit-taking pressure. Multiple investment banks had recently cut their price targets on Coinbase, with Needham lowering its target from $200 to $177, Benchmark from $270 to $230, and B. Riley from $243 to $203, reflecting ongoing fundamental concerns including a quarterly EPS loss of -$0.39 and declining transaction revenue. Goldman Sachs, however, raised its target to $196, and options market activity on September 4 showed strong bullish sentiment with a $1.437 million call spread betting on continued upside to 190/197.5 strike prices.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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