TradingKey – As of the close on November 5 Eastern Time, Coinbase (COIN) shares fell 9.69% to close at $136.82, hitting an intraday low of $133.5, a new low since February 2024. Technical analysis shows that the stock’s weekly chart continues to trade below major moving averages, and the medium-term correction structure has not significantly changed.
Morgan Stanley recently downgraded Coinbase to Underweight from Neutral and slashed its price target from $258 to $120, a cut of more than 53%. Analyst Michael Cyprys noted that subdued cryptocurrency trading activity recently, coupled with a weakening revenue outlook, has dampened confidence in the pace of Coinbase’s earnings recovery.
Meanwhile, Morgan Stanley lowered its future earnings…
