Coinbase hit with 50% price target cut as post-earnings rout deepens
Summary
Morgan Stanley has significantly reduced its price target for Coinbase following the company's recent earnings report. The downgrade reflects growing concerns over declining trading volumes and the negative impact of the recent Binance security breach on future revenue.
Slowing trading activity and fallout from the Binance hack are clouding Coinbase’s revenue prospects, prompting Morgan Stanley to lower its rating on the stock.
Source: Read the full story at Cointelegraph.com News
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