+Follow
PROTRADER
No personal profile
1
Follow
0
Followers
0
Topic
0
Badge
Posts
Hot
PROTRADER
2022-09-30
Hi
Coinbase Stock Tumbles 9% as Wells Fargo Starts at Underweight
PROTRADER
2022-09-30
Hallo
Coinbase Stock Tumbles 9% as Wells Fargo Starts at Underweight
Go to Tiger App to see more news
{"i18n":{"language":"en_US"},"userPageInfo":{"id":"4127598467750792","uuid":"4127598467750792","gmtCreate":1664495377922,"gmtModify":1664503259477,"name":"PROTRADER","pinyin":"protrader","introduction":"","introductionEn":"","signature":"","avatar":"https://community-static.tradeup.com/news/4db9b44954294535f1c3d14c7a4f4ce7","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":0,"headSize":1,"tweetSize":2,"questionSize":0,"limitLevel":999,"accountStatus":2,"level":{"id":0,"name":"","nameTw":"","represent":"","factor":"","iconColor":"","bgColor":""},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":"init","userBadges":[{"badgeId":"1026c425416b44e0aac28c11a0848493-1","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Debut Tiger","description":"Join the tiger community for 500 days","bigImgUrl":"https://static.tigerbbs.com/0e4d0ca1da0456dc7894c946d44bf9ab","smallImgUrl":"https://static.tigerbbs.com/0f2f65e8ce4cfaae8db2bea9b127f58b","grayImgUrl":"https://static.tigerbbs.com/c5948a31b6edf154422335b265235809","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.12.17","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001}],"userBadgeCount":1,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":1,"crmLevelSwitch":0,"location":null,"starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"post","tweets":[{"id":9916914489,"gmtCreate":1664497086441,"gmtModify":1676537465320,"author":{"id":"4127598467750792","authorId":"4127598467750792","name":"PROTRADER","avatar":"https://community-static.tradeup.com/news/4db9b44954294535f1c3d14c7a4f4ce7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4127598467750792","authorIdStr":"4127598467750792"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9916914489","repostId":"1129667988","repostType":4,"repost":{"id":"1129667988","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1664460362,"share":"https://ttm.financial/m/news/1129667988?lang=&edition=fundamental","pubTime":"2022-09-29 22:06","market":"us","language":"en","title":"Coinbase Stock Tumbles 9% as Wells Fargo Starts at Underweight","url":"https://stock-news.laohu8.com/highlight/detail?id=1129667988","media":"Tiger Newspress","summary":"Wells Fargo Starts Coinbase at Underweight, Sees 15% Downside Risk","content":"<html><head></head><body><p>A Wells Fargo analyst initiated research coverage on Coinbase Global (NASDAQ:COIN) at an Underweight rating. Coinbase shares are down over 1% in pre-open Thursday trading.</p><p>Coinbase Stock Tumbles 9% in Morning Trading.<img src=\"https://static.tigerbbs.com/18f8f7a62a10c919a046f7a91cd21f55\" tg-width=\"789\" tg-height=\"678\" referrerpolicy=\"no-referrer\"/>The price target is set at $57 per share, indicating a downside risk of just over 15% compared to yesterday’s closing price of $67.31. The analyst says Coinbase operates in a “challenged environment” which will continue to impact its operations.</p><p>More precisely, the Underweight rating is a result of the analyst's view that COIN is impacted by several strong headwinds, namely:</p><p>Retail pricing is likely to decline,</p><p>Rising competition from Binance and FTX,</p><p>More restrictive government stance toward crypto, and</p><p>Macro environment will likely further weaken from here.</p><p>“Though we believe in the value of COIN's platform, we see its early-mover advantages gradually being eroded away as the competition increasingly mimics the COIN ecosystem,” the analyst said in a client note.</p><p>Furthermore, the analyst sees risks to a consensus as the “crypto winter” impact remains “significant.”</p><p>“We forecast a 56% Y/Y decline in 3Q retail transaction revenue to $451M; we're below consensus. We're also below consensus in '23 as we see macro weakness and a tougher regulatory environment constraining COIN's volumes/revenue,” the analyst added.</p><p>Net-net, the analyst struggles to understand the clear path for Coinbase to become a profitable business on a sustainable basis.</p><p>“Regulation in particular will be a challenge for COIN—for example, note the recent discussion coming from the SEC about “cryptos as securities” (e.g., for staked assets). Though COIN is managing through all of these (including by offering products like a subscription model), we don't see a clear path for the company to reach profitability,” the analyst concluded.</p><p>Elsewhere, the analyst also initiated research coverage on Riot Blockchain (NASDAQ:RIOT) and Bakkt Holdings (NYSE:BKKT) at Equal Weight. Price targets are set at $7 and $2.50 per share, respectively.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Coinbase Stock Tumbles 9% as Wells Fargo Starts at Underweight</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCoinbase Stock Tumbles 9% as Wells Fargo Starts at Underweight\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-09-29 22:06</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>A Wells Fargo analyst initiated research coverage on Coinbase Global (NASDAQ:COIN) at an Underweight rating. Coinbase shares are down over 1% in pre-open Thursday trading.</p><p>Coinbase Stock Tumbles 9% in Morning Trading.<img src=\"https://static.tigerbbs.com/18f8f7a62a10c919a046f7a91cd21f55\" tg-width=\"789\" tg-height=\"678\" referrerpolicy=\"no-referrer\"/>The price target is set at $57 per share, indicating a downside risk of just over 15% compared to yesterday’s closing price of $67.31. The analyst says Coinbase operates in a “challenged environment” which will continue to impact its operations.</p><p>More precisely, the Underweight rating is a result of the analyst's view that COIN is impacted by several strong headwinds, namely:</p><p>Retail pricing is likely to decline,</p><p>Rising competition from Binance and FTX,</p><p>More restrictive government stance toward crypto, and</p><p>Macro environment will likely further weaken from here.</p><p>“Though we believe in the value of COIN's platform, we see its early-mover advantages gradually being eroded away as the competition increasingly mimics the COIN ecosystem,” the analyst said in a client note.</p><p>Furthermore, the analyst sees risks to a consensus as the “crypto winter” impact remains “significant.”</p><p>“We forecast a 56% Y/Y decline in 3Q retail transaction revenue to $451M; we're below consensus. We're also below consensus in '23 as we see macro weakness and a tougher regulatory environment constraining COIN's volumes/revenue,” the analyst added.</p><p>Net-net, the analyst struggles to understand the clear path for Coinbase to become a profitable business on a sustainable basis.</p><p>“Regulation in particular will be a challenge for COIN—for example, note the recent discussion coming from the SEC about “cryptos as securities” (e.g., for staked assets). Though COIN is managing through all of these (including by offering products like a subscription model), we don't see a clear path for the company to reach profitability,” the analyst concluded.</p><p>Elsewhere, the analyst also initiated research coverage on Riot Blockchain (NASDAQ:RIOT) and Bakkt Holdings (NYSE:BKKT) at Equal Weight. Price targets are set at $7 and $2.50 per share, respectively.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129667988","content_text":"A Wells Fargo analyst initiated research coverage on Coinbase Global (NASDAQ:COIN) at an Underweight rating. Coinbase shares are down over 1% in pre-open Thursday trading.Coinbase Stock Tumbles 9% in Morning Trading.The price target is set at $57 per share, indicating a downside risk of just over 15% compared to yesterday’s closing price of $67.31. The analyst says Coinbase operates in a “challenged environment” which will continue to impact its operations.More precisely, the Underweight rating is a result of the analyst's view that COIN is impacted by several strong headwinds, namely:Retail pricing is likely to decline,Rising competition from Binance and FTX,More restrictive government stance toward crypto, andMacro environment will likely further weaken from here.“Though we believe in the value of COIN's platform, we see its early-mover advantages gradually being eroded away as the competition increasingly mimics the COIN ecosystem,” the analyst said in a client note.Furthermore, the analyst sees risks to a consensus as the “crypto winter” impact remains “significant.”“We forecast a 56% Y/Y decline in 3Q retail transaction revenue to $451M; we're below consensus. We're also below consensus in '23 as we see macro weakness and a tougher regulatory environment constraining COIN's volumes/revenue,” the analyst added.Net-net, the analyst struggles to understand the clear path for Coinbase to become a profitable business on a sustainable basis.“Regulation in particular will be a challenge for COIN—for example, note the recent discussion coming from the SEC about “cryptos as securities” (e.g., for staked assets). Though COIN is managing through all of these (including by offering products like a subscription model), we don't see a clear path for the company to reach profitability,” the analyst concluded.Elsewhere, the analyst also initiated research coverage on Riot Blockchain (NASDAQ:RIOT) and Bakkt Holdings (NYSE:BKKT) at Equal Weight. Price targets are set at $7 and $2.50 per share, respectively.","news_type":1},"isVote":1,"tweetType":1,"viewCount":7,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9916915691,"gmtCreate":1664496982013,"gmtModify":1676537465287,"author":{"id":"4127598467750792","authorId":"4127598467750792","name":"PROTRADER","avatar":"https://community-static.tradeup.com/news/4db9b44954294535f1c3d14c7a4f4ce7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4127598467750792","authorIdStr":"4127598467750792"},"themes":[],"htmlText":"Hallo","listText":"Hallo","text":"Hallo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9916915691","repostId":"1129667988","repostType":4,"repost":{"id":"1129667988","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1664460362,"share":"https://ttm.financial/m/news/1129667988?lang=&edition=fundamental","pubTime":"2022-09-29 22:06","market":"us","language":"en","title":"Coinbase Stock Tumbles 9% as Wells Fargo Starts at Underweight","url":"https://stock-news.laohu8.com/highlight/detail?id=1129667988","media":"Tiger Newspress","summary":"Wells Fargo Starts Coinbase at Underweight, Sees 15% Downside Risk","content":"<html><head></head><body><p>A Wells Fargo analyst initiated research coverage on Coinbase Global (NASDAQ:COIN) at an Underweight rating. Coinbase shares are down over 1% in pre-open Thursday trading.</p><p>Coinbase Stock Tumbles 9% in Morning Trading.<img src=\"https://static.tigerbbs.com/18f8f7a62a10c919a046f7a91cd21f55\" tg-width=\"789\" tg-height=\"678\" referrerpolicy=\"no-referrer\"/>The price target is set at $57 per share, indicating a downside risk of just over 15% compared to yesterday’s closing price of $67.31. The analyst says Coinbase operates in a “challenged environment” which will continue to impact its operations.</p><p>More precisely, the Underweight rating is a result of the analyst's view that COIN is impacted by several strong headwinds, namely:</p><p>Retail pricing is likely to decline,</p><p>Rising competition from Binance and FTX,</p><p>More restrictive government stance toward crypto, and</p><p>Macro environment will likely further weaken from here.</p><p>“Though we believe in the value of COIN's platform, we see its early-mover advantages gradually being eroded away as the competition increasingly mimics the COIN ecosystem,” the analyst said in a client note.</p><p>Furthermore, the analyst sees risks to a consensus as the “crypto winter” impact remains “significant.”</p><p>“We forecast a 56% Y/Y decline in 3Q retail transaction revenue to $451M; we're below consensus. We're also below consensus in '23 as we see macro weakness and a tougher regulatory environment constraining COIN's volumes/revenue,” the analyst added.</p><p>Net-net, the analyst struggles to understand the clear path for Coinbase to become a profitable business on a sustainable basis.</p><p>“Regulation in particular will be a challenge for COIN—for example, note the recent discussion coming from the SEC about “cryptos as securities” (e.g., for staked assets). Though COIN is managing through all of these (including by offering products like a subscription model), we don't see a clear path for the company to reach profitability,” the analyst concluded.</p><p>Elsewhere, the analyst also initiated research coverage on Riot Blockchain (NASDAQ:RIOT) and Bakkt Holdings (NYSE:BKKT) at Equal Weight. Price targets are set at $7 and $2.50 per share, respectively.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Coinbase Stock Tumbles 9% as Wells Fargo Starts at Underweight</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCoinbase Stock Tumbles 9% as Wells Fargo Starts at Underweight\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-09-29 22:06</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>A Wells Fargo analyst initiated research coverage on Coinbase Global (NASDAQ:COIN) at an Underweight rating. Coinbase shares are down over 1% in pre-open Thursday trading.</p><p>Coinbase Stock Tumbles 9% in Morning Trading.<img src=\"https://static.tigerbbs.com/18f8f7a62a10c919a046f7a91cd21f55\" tg-width=\"789\" tg-height=\"678\" referrerpolicy=\"no-referrer\"/>The price target is set at $57 per share, indicating a downside risk of just over 15% compared to yesterday’s closing price of $67.31. The analyst says Coinbase operates in a “challenged environment” which will continue to impact its operations.</p><p>More precisely, the Underweight rating is a result of the analyst's view that COIN is impacted by several strong headwinds, namely:</p><p>Retail pricing is likely to decline,</p><p>Rising competition from Binance and FTX,</p><p>More restrictive government stance toward crypto, and</p><p>Macro environment will likely further weaken from here.</p><p>“Though we believe in the value of COIN's platform, we see its early-mover advantages gradually being eroded away as the competition increasingly mimics the COIN ecosystem,” the analyst said in a client note.</p><p>Furthermore, the analyst sees risks to a consensus as the “crypto winter” impact remains “significant.”</p><p>“We forecast a 56% Y/Y decline in 3Q retail transaction revenue to $451M; we're below consensus. We're also below consensus in '23 as we see macro weakness and a tougher regulatory environment constraining COIN's volumes/revenue,” the analyst added.</p><p>Net-net, the analyst struggles to understand the clear path for Coinbase to become a profitable business on a sustainable basis.</p><p>“Regulation in particular will be a challenge for COIN—for example, note the recent discussion coming from the SEC about “cryptos as securities” (e.g., for staked assets). Though COIN is managing through all of these (including by offering products like a subscription model), we don't see a clear path for the company to reach profitability,” the analyst concluded.</p><p>Elsewhere, the analyst also initiated research coverage on Riot Blockchain (NASDAQ:RIOT) and Bakkt Holdings (NYSE:BKKT) at Equal Weight. Price targets are set at $7 and $2.50 per share, respectively.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129667988","content_text":"A Wells Fargo analyst initiated research coverage on Coinbase Global (NASDAQ:COIN) at an Underweight rating. Coinbase shares are down over 1% in pre-open Thursday trading.Coinbase Stock Tumbles 9% in Morning Trading.The price target is set at $57 per share, indicating a downside risk of just over 15% compared to yesterday’s closing price of $67.31. The analyst says Coinbase operates in a “challenged environment” which will continue to impact its operations.More precisely, the Underweight rating is a result of the analyst's view that COIN is impacted by several strong headwinds, namely:Retail pricing is likely to decline,Rising competition from Binance and FTX,More restrictive government stance toward crypto, andMacro environment will likely further weaken from here.“Though we believe in the value of COIN's platform, we see its early-mover advantages gradually being eroded away as the competition increasingly mimics the COIN ecosystem,” the analyst said in a client note.Furthermore, the analyst sees risks to a consensus as the “crypto winter” impact remains “significant.”“We forecast a 56% Y/Y decline in 3Q retail transaction revenue to $451M; we're below consensus. We're also below consensus in '23 as we see macro weakness and a tougher regulatory environment constraining COIN's volumes/revenue,” the analyst added.Net-net, the analyst struggles to understand the clear path for Coinbase to become a profitable business on a sustainable basis.“Regulation in particular will be a challenge for COIN—for example, note the recent discussion coming from the SEC about “cryptos as securities” (e.g., for staked assets). Though COIN is managing through all of these (including by offering products like a subscription model), we don't see a clear path for the company to reach profitability,” the analyst concluded.Elsewhere, the analyst also initiated research coverage on Riot Blockchain (NASDAQ:RIOT) and Bakkt Holdings (NYSE:BKKT) at Equal Weight. Price targets are set at $7 and $2.50 per share, respectively.","news_type":1},"isVote":1,"tweetType":1,"viewCount":2,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":9916914489,"gmtCreate":1664497086441,"gmtModify":1676537465320,"author":{"id":"4127598467750792","authorId":"4127598467750792","name":"PROTRADER","avatar":"https://community-static.tradeup.com/news/4db9b44954294535f1c3d14c7a4f4ce7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4127598467750792","authorIdStr":"4127598467750792"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9916914489","repostId":"1129667988","repostType":4,"repost":{"id":"1129667988","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1664460362,"share":"https://ttm.financial/m/news/1129667988?lang=&edition=fundamental","pubTime":"2022-09-29 22:06","market":"us","language":"en","title":"Coinbase Stock Tumbles 9% as Wells Fargo Starts at Underweight","url":"https://stock-news.laohu8.com/highlight/detail?id=1129667988","media":"Tiger Newspress","summary":"Wells Fargo Starts Coinbase at Underweight, Sees 15% Downside Risk","content":"<html><head></head><body><p>A Wells Fargo analyst initiated research coverage on Coinbase Global (NASDAQ:COIN) at an Underweight rating. Coinbase shares are down over 1% in pre-open Thursday trading.</p><p>Coinbase Stock Tumbles 9% in Morning Trading.<img src=\"https://static.tigerbbs.com/18f8f7a62a10c919a046f7a91cd21f55\" tg-width=\"789\" tg-height=\"678\" referrerpolicy=\"no-referrer\"/>The price target is set at $57 per share, indicating a downside risk of just over 15% compared to yesterday’s closing price of $67.31. The analyst says Coinbase operates in a “challenged environment” which will continue to impact its operations.</p><p>More precisely, the Underweight rating is a result of the analyst's view that COIN is impacted by several strong headwinds, namely:</p><p>Retail pricing is likely to decline,</p><p>Rising competition from Binance and FTX,</p><p>More restrictive government stance toward crypto, and</p><p>Macro environment will likely further weaken from here.</p><p>“Though we believe in the value of COIN's platform, we see its early-mover advantages gradually being eroded away as the competition increasingly mimics the COIN ecosystem,” the analyst said in a client note.</p><p>Furthermore, the analyst sees risks to a consensus as the “crypto winter” impact remains “significant.”</p><p>“We forecast a 56% Y/Y decline in 3Q retail transaction revenue to $451M; we're below consensus. We're also below consensus in '23 as we see macro weakness and a tougher regulatory environment constraining COIN's volumes/revenue,” the analyst added.</p><p>Net-net, the analyst struggles to understand the clear path for Coinbase to become a profitable business on a sustainable basis.</p><p>“Regulation in particular will be a challenge for COIN—for example, note the recent discussion coming from the SEC about “cryptos as securities” (e.g., for staked assets). Though COIN is managing through all of these (including by offering products like a subscription model), we don't see a clear path for the company to reach profitability,” the analyst concluded.</p><p>Elsewhere, the analyst also initiated research coverage on Riot Blockchain (NASDAQ:RIOT) and Bakkt Holdings (NYSE:BKKT) at Equal Weight. Price targets are set at $7 and $2.50 per share, respectively.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Coinbase Stock Tumbles 9% as Wells Fargo Starts at Underweight</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCoinbase Stock Tumbles 9% as Wells Fargo Starts at Underweight\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-09-29 22:06</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>A Wells Fargo analyst initiated research coverage on Coinbase Global (NASDAQ:COIN) at an Underweight rating. Coinbase shares are down over 1% in pre-open Thursday trading.</p><p>Coinbase Stock Tumbles 9% in Morning Trading.<img src=\"https://static.tigerbbs.com/18f8f7a62a10c919a046f7a91cd21f55\" tg-width=\"789\" tg-height=\"678\" referrerpolicy=\"no-referrer\"/>The price target is set at $57 per share, indicating a downside risk of just over 15% compared to yesterday’s closing price of $67.31. The analyst says Coinbase operates in a “challenged environment” which will continue to impact its operations.</p><p>More precisely, the Underweight rating is a result of the analyst's view that COIN is impacted by several strong headwinds, namely:</p><p>Retail pricing is likely to decline,</p><p>Rising competition from Binance and FTX,</p><p>More restrictive government stance toward crypto, and</p><p>Macro environment will likely further weaken from here.</p><p>“Though we believe in the value of COIN's platform, we see its early-mover advantages gradually being eroded away as the competition increasingly mimics the COIN ecosystem,” the analyst said in a client note.</p><p>Furthermore, the analyst sees risks to a consensus as the “crypto winter” impact remains “significant.”</p><p>“We forecast a 56% Y/Y decline in 3Q retail transaction revenue to $451M; we're below consensus. We're also below consensus in '23 as we see macro weakness and a tougher regulatory environment constraining COIN's volumes/revenue,” the analyst added.</p><p>Net-net, the analyst struggles to understand the clear path for Coinbase to become a profitable business on a sustainable basis.</p><p>“Regulation in particular will be a challenge for COIN—for example, note the recent discussion coming from the SEC about “cryptos as securities” (e.g., for staked assets). Though COIN is managing through all of these (including by offering products like a subscription model), we don't see a clear path for the company to reach profitability,” the analyst concluded.</p><p>Elsewhere, the analyst also initiated research coverage on Riot Blockchain (NASDAQ:RIOT) and Bakkt Holdings (NYSE:BKKT) at Equal Weight. Price targets are set at $7 and $2.50 per share, respectively.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129667988","content_text":"A Wells Fargo analyst initiated research coverage on Coinbase Global (NASDAQ:COIN) at an Underweight rating. Coinbase shares are down over 1% in pre-open Thursday trading.Coinbase Stock Tumbles 9% in Morning Trading.The price target is set at $57 per share, indicating a downside risk of just over 15% compared to yesterday’s closing price of $67.31. The analyst says Coinbase operates in a “challenged environment” which will continue to impact its operations.More precisely, the Underweight rating is a result of the analyst's view that COIN is impacted by several strong headwinds, namely:Retail pricing is likely to decline,Rising competition from Binance and FTX,More restrictive government stance toward crypto, andMacro environment will likely further weaken from here.“Though we believe in the value of COIN's platform, we see its early-mover advantages gradually being eroded away as the competition increasingly mimics the COIN ecosystem,” the analyst said in a client note.Furthermore, the analyst sees risks to a consensus as the “crypto winter” impact remains “significant.”“We forecast a 56% Y/Y decline in 3Q retail transaction revenue to $451M; we're below consensus. We're also below consensus in '23 as we see macro weakness and a tougher regulatory environment constraining COIN's volumes/revenue,” the analyst added.Net-net, the analyst struggles to understand the clear path for Coinbase to become a profitable business on a sustainable basis.“Regulation in particular will be a challenge for COIN—for example, note the recent discussion coming from the SEC about “cryptos as securities” (e.g., for staked assets). Though COIN is managing through all of these (including by offering products like a subscription model), we don't see a clear path for the company to reach profitability,” the analyst concluded.Elsewhere, the analyst also initiated research coverage on Riot Blockchain (NASDAQ:RIOT) and Bakkt Holdings (NYSE:BKKT) at Equal Weight. Price targets are set at $7 and $2.50 per share, respectively.","news_type":1},"isVote":1,"tweetType":1,"viewCount":7,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9916915691,"gmtCreate":1664496982013,"gmtModify":1676537465287,"author":{"id":"4127598467750792","authorId":"4127598467750792","name":"PROTRADER","avatar":"https://community-static.tradeup.com/news/4db9b44954294535f1c3d14c7a4f4ce7","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4127598467750792","authorIdStr":"4127598467750792"},"themes":[],"htmlText":"Hallo","listText":"Hallo","text":"Hallo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9916915691","repostId":"1129667988","repostType":4,"repost":{"id":"1129667988","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1664460362,"share":"https://ttm.financial/m/news/1129667988?lang=&edition=fundamental","pubTime":"2022-09-29 22:06","market":"us","language":"en","title":"Coinbase Stock Tumbles 9% as Wells Fargo Starts at Underweight","url":"https://stock-news.laohu8.com/highlight/detail?id=1129667988","media":"Tiger Newspress","summary":"Wells Fargo Starts Coinbase at Underweight, Sees 15% Downside Risk","content":"<html><head></head><body><p>A Wells Fargo analyst initiated research coverage on Coinbase Global (NASDAQ:COIN) at an Underweight rating. Coinbase shares are down over 1% in pre-open Thursday trading.</p><p>Coinbase Stock Tumbles 9% in Morning Trading.<img src=\"https://static.tigerbbs.com/18f8f7a62a10c919a046f7a91cd21f55\" tg-width=\"789\" tg-height=\"678\" referrerpolicy=\"no-referrer\"/>The price target is set at $57 per share, indicating a downside risk of just over 15% compared to yesterday’s closing price of $67.31. The analyst says Coinbase operates in a “challenged environment” which will continue to impact its operations.</p><p>More precisely, the Underweight rating is a result of the analyst's view that COIN is impacted by several strong headwinds, namely:</p><p>Retail pricing is likely to decline,</p><p>Rising competition from Binance and FTX,</p><p>More restrictive government stance toward crypto, and</p><p>Macro environment will likely further weaken from here.</p><p>“Though we believe in the value of COIN's platform, we see its early-mover advantages gradually being eroded away as the competition increasingly mimics the COIN ecosystem,” the analyst said in a client note.</p><p>Furthermore, the analyst sees risks to a consensus as the “crypto winter” impact remains “significant.”</p><p>“We forecast a 56% Y/Y decline in 3Q retail transaction revenue to $451M; we're below consensus. We're also below consensus in '23 as we see macro weakness and a tougher regulatory environment constraining COIN's volumes/revenue,” the analyst added.</p><p>Net-net, the analyst struggles to understand the clear path for Coinbase to become a profitable business on a sustainable basis.</p><p>“Regulation in particular will be a challenge for COIN—for example, note the recent discussion coming from the SEC about “cryptos as securities” (e.g., for staked assets). Though COIN is managing through all of these (including by offering products like a subscription model), we don't see a clear path for the company to reach profitability,” the analyst concluded.</p><p>Elsewhere, the analyst also initiated research coverage on Riot Blockchain (NASDAQ:RIOT) and Bakkt Holdings (NYSE:BKKT) at Equal Weight. Price targets are set at $7 and $2.50 per share, respectively.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Coinbase Stock Tumbles 9% as Wells Fargo Starts at Underweight</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCoinbase Stock Tumbles 9% as Wells Fargo Starts at Underweight\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-09-29 22:06</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>A Wells Fargo analyst initiated research coverage on Coinbase Global (NASDAQ:COIN) at an Underweight rating. Coinbase shares are down over 1% in pre-open Thursday trading.</p><p>Coinbase Stock Tumbles 9% in Morning Trading.<img src=\"https://static.tigerbbs.com/18f8f7a62a10c919a046f7a91cd21f55\" tg-width=\"789\" tg-height=\"678\" referrerpolicy=\"no-referrer\"/>The price target is set at $57 per share, indicating a downside risk of just over 15% compared to yesterday’s closing price of $67.31. The analyst says Coinbase operates in a “challenged environment” which will continue to impact its operations.</p><p>More precisely, the Underweight rating is a result of the analyst's view that COIN is impacted by several strong headwinds, namely:</p><p>Retail pricing is likely to decline,</p><p>Rising competition from Binance and FTX,</p><p>More restrictive government stance toward crypto, and</p><p>Macro environment will likely further weaken from here.</p><p>“Though we believe in the value of COIN's platform, we see its early-mover advantages gradually being eroded away as the competition increasingly mimics the COIN ecosystem,” the analyst said in a client note.</p><p>Furthermore, the analyst sees risks to a consensus as the “crypto winter” impact remains “significant.”</p><p>“We forecast a 56% Y/Y decline in 3Q retail transaction revenue to $451M; we're below consensus. We're also below consensus in '23 as we see macro weakness and a tougher regulatory environment constraining COIN's volumes/revenue,” the analyst added.</p><p>Net-net, the analyst struggles to understand the clear path for Coinbase to become a profitable business on a sustainable basis.</p><p>“Regulation in particular will be a challenge for COIN—for example, note the recent discussion coming from the SEC about “cryptos as securities” (e.g., for staked assets). Though COIN is managing through all of these (including by offering products like a subscription model), we don't see a clear path for the company to reach profitability,” the analyst concluded.</p><p>Elsewhere, the analyst also initiated research coverage on Riot Blockchain (NASDAQ:RIOT) and Bakkt Holdings (NYSE:BKKT) at Equal Weight. Price targets are set at $7 and $2.50 per share, respectively.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129667988","content_text":"A Wells Fargo analyst initiated research coverage on Coinbase Global (NASDAQ:COIN) at an Underweight rating. Coinbase shares are down over 1% in pre-open Thursday trading.Coinbase Stock Tumbles 9% in Morning Trading.The price target is set at $57 per share, indicating a downside risk of just over 15% compared to yesterday’s closing price of $67.31. The analyst says Coinbase operates in a “challenged environment” which will continue to impact its operations.More precisely, the Underweight rating is a result of the analyst's view that COIN is impacted by several strong headwinds, namely:Retail pricing is likely to decline,Rising competition from Binance and FTX,More restrictive government stance toward crypto, andMacro environment will likely further weaken from here.“Though we believe in the value of COIN's platform, we see its early-mover advantages gradually being eroded away as the competition increasingly mimics the COIN ecosystem,” the analyst said in a client note.Furthermore, the analyst sees risks to a consensus as the “crypto winter” impact remains “significant.”“We forecast a 56% Y/Y decline in 3Q retail transaction revenue to $451M; we're below consensus. We're also below consensus in '23 as we see macro weakness and a tougher regulatory environment constraining COIN's volumes/revenue,” the analyst added.Net-net, the analyst struggles to understand the clear path for Coinbase to become a profitable business on a sustainable basis.“Regulation in particular will be a challenge for COIN—for example, note the recent discussion coming from the SEC about “cryptos as securities” (e.g., for staked assets). Though COIN is managing through all of these (including by offering products like a subscription model), we don't see a clear path for the company to reach profitability,” the analyst concluded.Elsewhere, the analyst also initiated research coverage on Riot Blockchain (NASDAQ:RIOT) and Bakkt Holdings (NYSE:BKKT) at Equal Weight. Price targets are set at $7 and $2.50 per share, respectively.","news_type":1},"isVote":1,"tweetType":1,"viewCount":2,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}