Coinbase Stock Is Soaring. It Might Be a Haven in a Wild Crypto Market.

Coinbase Global


stock continued its winning streak on Tuesday, rising alongside the price of Bitcoin and on the back of a strong analyst endorsement.

Coinbase


(ticker: COIN) has already had a busy start to 2023. Last week, the company said it would lay off 20% of its staff in an attempt to cut costs. Since that announcement, analysts have been debating whether or not the stock is worth buying. Shares fell during the crypto meltdown late last year; retail investors turned away amid concerns over the future of digital assets after the collapse of the exchange FTX.