Coinbase is trading as though it will “burn through all of its cash and then become insolvent,” Mark Palmer, BTIG’s equity research analyst said in a note. Eventually, investors will recognize an opportunity in the shares, he said, calling the stock drop “greatly overblown.” BTIG maintained a buy recommendation and lowered the price target to $380 from $500.
Source: https://www.coindesk.com/business/2022/05/11/coinbase-shares-plunge-as-weak-earnings-prompt-near-term-caution/?utm_medium=referral&utm_source=rss&utm_campaign=headlines