Posted 11/27/2023, 8:32:23 PM
Coinbase Stock Rises as CEO Welcomes Crypto Regulation, Sees Increasing Institutional Investment
- Coinbase stock rose 4% as CEO said recent crypto issues allow the industry to move forward and increase institutional investment
- Crypto investment funds saw $346 million inflows last week, the 9th straight week of inflows, suggesting rising confidence
- Analysts have a Hold rating on Coinbase stock with a $89.56 average price target, implying 25.59% downside risk
- The numbers suggest some renewed faith and investment in cryptocurrencies and related stocks
- Coinbase could benefit from regulators addressing issues in the crypto industry and increased institutional investment