Wall Street is Sizing Up Recent Crypto IPO Bullish. Some Analysts Are Lukewarm.
Key Takeaways
- Analysts at Citi, Jefferies, and Oppenheimer this week started coverage of Bullish, the company that owns crypto news publication CoinDesk and operates a digital assets platform.
- Reports were generally positive, citing Bullish’s growth potential as a catalyst for growth, but a couple of firms said their neutral ratings on the stock were due to stretched valuations post-IPO.
- The stock has fallen since its trading debut, though still higher than its IPO price.
As more crypto firms hit the public markets, they are getting looked over by Wall Street’s analysts. One of the latest IPOs has some analysts feeling lukewarm—even though the shares have cooled off since trading started.
Analysts at Citi, Jefferies, and…
