I’m 🐻-ish About COIN🪙 But Cathie Wood Loads
@LMSunshine:
🐻 $Coinbase Global, Inc.(COIN)$ stock ended ~7% lower on 5/1 (Mon) in line with losses in the broader cryptocurrency market, as bitcoin (BTC-USD) fell below $29K amid easing of banking fears given JPM’s takeover of $First Republic Bank(FRC)$ Bearish 🐻🐻 Shares of COIN declined as much as 9.9% to their lowest in more than 3 months. 🐻🐻🐻 Shares dropped ~25% from a month ago in the wake of its legal battle against the SEC. However, the stock is still up 49% YTD amid a broader crypto rally. COIN has tumbled 54% over the past 12 months amid turmoil in the cryptocurrency market. But it has rebounded this year, helped by bitcoin’s recovery. 👎 Citi downgraded COIN to Neu