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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 Neutral from Buy owing to a "high level" of 🇺🇸 regulatory uncertainty ➡️ "Coinbase is now tasked to advocate for a reputationally damaged industry and pave a sustainable pathway towards regulatory compliance," Citi said. 📰 Cathie Wood, chief executive of Ark Investment Management, bought COIN on Monday for the 1st time in a week & repeated two trades from Friday. Ark funds snagged 168,869 shares of COIN. COIN is the 5th biggest holding in Wood’s flagship Ark Innovation ETF (ARKK). 📰 COIN started a foreign exchange for cryptocurrency derivatives on 5/2 (Tue) & the stock closed at $51.32, 2.35% higher after its Monday’s crash. ⭐️ The 23 analysts offering 12-month price forecasts for COIN have a median🎯 of $65, with a high🎯 of $200 & a low🎯 of $30. The average Wall Street analyst rating is at Hold But COIN is a SELL for me amid the ongoing banking crisis🔥🏦🏦🏦🔥 $Bank of America(BAC)$ Bearish$Western Alliance(WAL)$ Bearish$UBS Group AG(UBS)$ Bearish Any bad🗞🗞🗞 can send investors running🏃♀️🏃🏃♂️ & the risk to me just isn’t worthed it😅 Fellow 🐯🐯🐯 do watch the 🗞🗞🗞 & market closely👀 & react accordingly💪💪💪Follow me if you enjoy reading analytical stock research🔍 presented in a fun & easily understandable way😉 & for the Latest Stock & 🗞🗞🗞 Updates🕵🏻♀️❣️ Please help to click on the “Like” & “Share/Repost” buttons at the Bottom Right corner so that more 🐯🐯🐯 can access this information, many thanks🤗🥰 You will Greatly Encourage Me❣️ As usual-🤔💭 Consider POV & Actions of Investors + 👩🏻💻👨🏻💻 Research + 🗑FOMO & Greed = Investing Wisely 🤓🤗 + Accumulating Wealth 💵💰 @TigerStars @Daily_Discussion
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