Atlantic Equities downgrades Coinbase on crypto price and volume collapse, risk of further turmoil
— Atlantic equities says, Stabilization, Aftermath, Wrote, Cryptocurrency prices remain volatile, Stablecoin terrausd, Seen since 2020, Consumer asset protections ," wrote analyst simon clinch, Atlantic equities sees, Buy coinbase — 1 min read
Atlantic Equities slashed its price target on the company from $95 a share to $54 a share. The firm sees further downside ahead for the company as a crypto winter looms. Cryptocurrency prices have plummeted in recent weeks to levels not seen since 2020. The collapse of stablecoin TerraUSD has further hit sentiment, hitting the company's stock 78% this year and 85% from its 52-week high. The company's price target is now $54, which implies a 2.5% downside from Tuesday's close, according to the firm's new price target of $54. It says it has "incremental concerns" over the company and "the spread of misinformation" over its financial strength and consumer asset protections. For confidential support call the Samaritans on 08457 909090 Source