Posted 3/27/2024, 7:09:00 PM
Coinbase Stock Dips After Losing Court Battle with SEC
- Coinbase stock dropped 2% after losing a court battle with the SEC over unregistered securities sales
- A judge ruled that the SEC's claim can go to trial before a jury
- The SEC previously alleged Coinbase was acting as an unregistered broker and exchange
- Part of the SEC's complaint regarding Coinbase's wallet app was dismissed
- Analysts have a "hold" rating on Coinbase stock with a $189 average price target, implying 27% downside risk
