Goldman downgrades Coinbase, upgrades Robinhood amid crypto volatility
Though Goldman Sachs is skeptical of both cryptocurrency exchanges, its analysts believe Robinhood offers a "more balanced risk reward."
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Though Goldman Sachs is skeptical of both cryptocurrency exchanges, its analysts believe Robinhood offers a "more balanced risk reward."
The Goldman Sachs has downgraded Coinbase stock (NASDAQ: COIN) from a buy to a sell.
Coinbase is continuing to struggle, with analysts now downgrading its stock, saying it's time to sell as the crypto winter is taking hold of the entire industry. See: What Is a Crypto Winter?Bear...
The ratings agency said Coinbase's trading volume, a key part of the exchange’s revenue model is wavering as cryptocurrency prices have been on the decline over the past months.
Shares of Coinbase (NASDAQ:COIN) are trading lower in June to reflect a bloodbath in the cryptocurrency market.