Morgan Stanley slashed its Coinbase price target by over 50%.
Stock futures are pointing higher Monday morning after the leading indexes plunged Friday; some tech stocks look poised to rebound a bit today, with a big deal announcement arriving, though shares of Intel, which plummeted to close last week; were lower premarket; crypto markets are showing signs of stabilization after a high-profile hack to finish last week; and investors are looking ahead to ...
The midterm election could reshape the outlook for companies heavily exposed to Washington, especially in defense, healthcare, crypto and artificial intelligence. Democratic control of either chamber could bring more investigations and oversight, while giving the party leverage over federal spending and must-pass legislation.
Some $6.3 billion of assets were affected by a security incident on Binance on Thursday, representing the largest crypto theft in history. Should traders be worried about leaving their funds on crypto exchanges after the incident?
Coinbase (NASDAQ: COIN) shares fell to their lowest level in more than two years on Friday as Wall Street analysts lowered price targets following the cryptocurrency exchange's third-quarter results. A broader sell-off in digital assets and concerns surrounding a reported $6.3 billion Binance hack added to the pressure on crypto-related stocks.
Bitcoin and the crypto sector retreated to end the week after Binance suffers $6.3 billion hack, marking the largest digital asset exploit.
Coinbase posted better-than-expected earnings in the third quarter, largely due to a recovery in the cryptocurrency market.