Why Coinbase Stock Was Nose-Diving Today

·2 min read

You wouldn't know that from the performance of one of the top cryptocurrency exchange operators, however. Coinbase Global (NASDAQ: COIN) was down by more than 12% in late afternoon trading, as investors digested the adjustments several analysts made on their evaluations of the stock. One of the more negative reworkings came from Keefe, Bruyette & Woods' Kyle Voigt, who cut his recommendation from market perform (read: neutral) to underperform (sell).